GVK Power heading towards the upper end of the range: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, gives his views on GVK Power.

ET Now: What is the call on GVK Power?

Mitesh Thacker: GVK is buzzing in the trade today. While GVK still manages to hold onto the levels, today’s low is an important level. That is a congestion zone of lot of averages. So 17.25 if it holds, I would suspect a rally to about levels of 19.75 and possibly if that level breaks, it could be higher to about levels of 21 and this could be on back of some kind of good news.

The stock has been sideways between 16 and 19.75. But it is clearly heading towards the upper end of the range and possible breakout scenario is also there.