Avoid Lanco Infra: Vijay Bhambwani

Vijay Bhambwani, Author, CEO, BSPLindia.com (Technical Check) in an interview with ET Now talks about Lanco Infra.

What is the call on Lanco Infra?

Lanco Infra over the weekly and monthly charts is in declining channel. So what you are seeing is basically a pullback rally. Now the day you see markets either consolidating or remaining under pressure the stock will surrender more ground then the overall benchmark headline indices.

On the upsides Lanco could possibly go up to 18.5 or may be 19-19.5 where huge amount of resistance would come in from overhead supply coming in. I would not want to buy Lanco Infra other than being a very high risk, high return kind of a trader.