Educomp is in downtrend: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, www.miteshthacker.com, talks about Educomp.

ET Now: What is your call on Educomp, is there more downside into both of this stock?

Mitesh Thacker: Educomp is already close to a support, the lowest monthly closing was about 330 in 2008, while in the weekly basis it was around 302-310 mark. So that is the level where you can see some support but the key over here is that while you might get a bounce back. We have not seen accumulation or a good consolidation required for a sustained trend reversal. I would be probably bearish look for rallies to sell into this stock.