Go for MTNL for a short term target of 72-73: Devang Visaria

In an interview with ET Now, Devang Visaria, Chief Strategist, devangvisaria.com, talked about MTNL.

MTNL on the charts?

It has already made one of the big moves from a low of closer to 53. It has just rallied up very smartly and is consolidating right now. Next move is possibly to 72-73 level which happens to be the 200 DMA region for this stock. A bigger move will happen if it is able to get past convincingly above 75. But this stock has a potential to be big dark horse because the way the volumes were there at the lower levels -- very huge volumes and historically high volumes treated at levels of 54-55. So that makes me think that it is going to be a dark horse. But right now, possibly a short term target of 72-73 and above 75, 120 is also very much possible on this one.