Postive on Havells India: Mitesh Thacker
"In fact if it comes back to about 430-425 range, I would be a buyer over there again, initiate a fresh long position despite the fact that we are already carrying some wrong positions in the stock."
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| Updated: Mitesh Thacker, Technical Analyst, miteshthacker.com, talks to ET Now on various stocks.
What is your call on Havells India?
The stock has done very well for the last few days. It has given a good move from levels of about 400-440. It has given a breakout above 430, which is what is required. Today being a weekly closing, we are just getting that, so that's pretty good of it.
Today's move or probably even yesterday's move can be called as just a pause or a slight pullback to the important level, which the stock has just broken out of, so I would be very positive.
In fact if it comes back to about 430-425 range, I would be a buyer over there again, initiate a fresh long position despite the fact that we are already carrying some wrong positions in the stock. This would look set probably to levels of 470 and I would keep a stop at about 418.
What is your call on Havells India?
The stock has done very well for the last few days. It has given a good move from levels of about 400-440. It has given a breakout above 430, which is what is required. Today being a weekly closing, we are just getting that, so that's pretty good of it.
Today's move or probably even yesterday's move can be called as just a pause or a slight pullback to the important level, which the stock has just broken out of, so I would be very positive.
In fact if it comes back to about 430-425 range, I would be a buyer over there again, initiate a fresh long position despite the fact that we are already carrying some wrong positions in the stock. This would look set probably to levels of 470 and I would keep a stop at about 418.
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