Buy Petronet: Mitesh Thacker
The broader undercurrent still remains strong and you have the feeling that the midcap stocks will keep doing well.
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| Updated: Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, gives his buy call
What is your stock recommendation?
The broader undercurrent still remains strong and you have the feeling that the midcap stocks will keep doing well. Fresh breakouts should be traded on the long side. I was positive on Petronet yesterday also. It is just giving a minor pullback to the triangular breakout which happened. This one can be bought with a stop of about Rs 159.70, a very tight stop of about Rs 3-3.5 over here and a target of Rs 173 on the upside.
What is your stock recommendation?
The broader undercurrent still remains strong and you have the feeling that the midcap stocks will keep doing well. Fresh breakouts should be traded on the long side. I was positive on Petronet yesterday also. It is just giving a minor pullback to the triangular breakout which happened. This one can be bought with a stop of about Rs 159.70, a very tight stop of about Rs 3-3.5 over here and a target of Rs 173 on the upside.
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