Low beta stocks in action: Mitesh Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat witH ET Now, gives his market outlook


Even though markets are off to a flat start, none of the high beta pockets so far have picked up momentum, metals banking, real estate.

That is correct. While we are trading above 5300, I would have probably wanted the breakout to happen with some more buzz on the stocks and high beta is quiet. While we are still long on the stocks and because lot of stocks have traded, have shown good pattern, it is still low beta coming into action. Ashok Leyland is doing pretty well, Divi’s Lab or a PTC Industries are the stocks which are breaking out. Maybe high beta will catch up. If today ends in positive and we still show strength, maybe you will see pick up happening in high beta because you cannot typically avoid high beta if the Nifty is giving a short term breakout.