Wait and watch for Selan: Mitesh Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, gives his recommendation on Selan


What do you think about Selan?

Selan has come on my radar purely because the volume action has been strong. This broke below consolidation at 290, so it needs to close about 290-300, which was the consolidation range and then you might see some kind of action happening. I am not sure this can be classified as a pullback because the move today is much stronger than normally you would get as a pullback but buying at this level of Rs 280-284 may not be a good idea. Once we get past Rs 300, you might see the rally continuing up to as high as RS 340.