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GMR Infrastructure to Remain Postive Above 30 Levels: Mitesh Thacker

  • Is it time to log out of momentum names like GVK, GMR and Lanco?
  • Mitesh Thacker: That move would be wise for a short term because I am slightly negative on the index. While the index has continued to show some strength, we are setting for a profit booking scenario. We might see stocks which have gone up by 40-50% give up about 10-12% of their gains. This could be an important move on the trading side.GMR is the only exception which looks very strong and as long as the stock is above its 200-day average, I would be very comfortable. So as long as 30 has not been broken, I would be okay with GMR. That is the only setup which still remains extremely positive and we saw the stock come up strongly after giving poor numbers and closed with a very positive movement of 7%.

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