Buy Lanco Industries and GMR Infrastructure: Mitesh Thacker
Lanco will probably get past levels of 23.5-24 which were the earlier highs and just record new high.
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| Updated: In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com shares his views on Lanco and GMR Infrastructure.
What is the call on Lanco and GMR Infrastructure?
Today is subdued day for all these names but that could be because of the strong price action which we saw yesterday. For example GMR recorded more than double digit gains yesterday and a similar kind of movement happened in Lanco.
So that is a very normal thing that after giving a strong breakout, just take a few days or probably 1 or 2 days of consolidation before eventually move up again. With the kind of up moves we have seen, the trend is on the upside and Lanco will probably get past levels of 23.5-24 which were the earlier highs.
GMR still can get up to levels of about 36-37 in the short to medium term but today or tomorrow could be a day of consolidation over there.
What is the call on Lanco and GMR Infrastructure?
Today is subdued day for all these names but that could be because of the strong price action which we saw yesterday. For example GMR recorded more than double digit gains yesterday and a similar kind of movement happened in Lanco.
So that is a very normal thing that after giving a strong breakout, just take a few days or probably 1 or 2 days of consolidation before eventually move up again. With the kind of up moves we have seen, the trend is on the upside and Lanco will probably get past levels of 23.5-24 which were the earlier highs.
GMR still can get up to levels of about 36-37 in the short to medium term but today or tomorrow could be a day of consolidation over there.
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