Wait and watch for Reliance Infra: Mitesh Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, gives his stock recommendations


What’s your view on some of the liquid names and also the ADAG group of stocks, which are seeing a bit of a bounce in this session?

This is purely a rally, which is covering most of the sectors of the market. We have got an advance decline of 3:1 after a long time, so ADAG stocks, which have been extremely oversold will participate. Though I am not looking at probably a stock like Reliance Communications but Reliance Infra is one, which interests me to a certain extent. If you look at the price history, this stock fell the least when the last correction came in. Once it gets past Rs 410-415 odd levels, you would see a level of about Rs 450-460, which is about 10% upside from here, so this is a stock, which I am watching very closely. Once this gives a breakout, this could be a good buy.