Buy VIP Industries, has got strength to go on the upside: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com shares his views about VIP Industries.

ET Now: What is your top idea valid for next 3 days from the consumption basket?

Mitesh Thacker: It should be only VIP. That is the one which is looking strong. VIP looks like it has got strength to go on the upside. In the price chart of VIP Industries, we have seen that the a sharp decline from 180 took the prices down to about 70 odd levels. We are seeing equally strong rebound over here. I am not saying that we will start a big uptrend but the revolve for a big fall will be slightly bigger and the percentage moves could be very rewarding. So while we have already moved up about 20% from the low of 70 odd levels, another 20% is likely to happen which means that we are looking at a price target of about 100 in the next few days.