Prefer Vedanta, can hit targets of Rs 100; Bharti Airtel a trading play: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his view on large caps.

ET Now: It is deceptive, we may argue that large caps did not do well but the Bharti Airtels, Vedantas of the world participated and closed at the week’s highs, what do you do here with some of these index names?

Mitesh Thacker: See we had lot of buy calls this week on Hindalco and I do like Vedanta a lot. I think Vedanta, what it has done is that it has retested the earlier lows of 82 and bounced back. A breakout will happen once we get pass 93 and we are practically there. Once that happens, the minimum target should be 99 to 100, possible target should be around 109-110. I, would be quite positive on Vedanta going forward from here.

Bharti Airtel, on the other hand, had a buy call yesterday and looks like more of a situation of reversal from oversold level. I, would possibly look at it from a trading perspective with targets close to about Rs 350, not beyond that.