Wait for CNX Infra Index to get past 2260-2275 to take a trade: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, Technical Analyst, miteshthacker.com, shares his views on infra pack.

ET Now: What is your call on infra pack?

Mitesh Thacker: I have been positive on the CNX Infra Index which has declined from levels of 2800. 2250 or 2248 is where it is trading right now and is the 34-day exponential average level. It is signalling that an important low has been made.

So, stocks like GMR, GVK are on my radar and I am just waiting for the index to get past 2260-2275 and then take a trade over there. My sense is that GMR can go up to as high as about 22.5-23 on the upside. GVK Power cannot give much in terms of monetary movement but the percentage gains are there to be captured.