Friday, 4 September 2009

IFCI has a short-term target of Rs 71: Thacker

Thacker told CNBC-TV18, "They have been buzzing around well. Not only the financials, but the public sector undertaking (PSU) banks especially the smaller ones also seem to have joined the rally. I like IFCI a lot in the sense that we have seen since the start of the rally in the month of March the stock has made a high at Rs 57 in the month of June and few days back it recorded a high of around Rs 57."

He further added, "Today, it is trading above the psychological mark since it’s a weekend closing, weekly closing for the stock and its closing at new highs for the upmove. So momentum should be good for the stock, we have seen intraday excellent addition in the open interest; Rs 70 is the short-term target we are looking for the stock."

Source: Moneycontrol

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