Avoid picking Infosys: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, founder & MD, APTART Technical Advisory Services, in a chat with ET Now gives his stock views and talks about the IT space.

Can you give us a buy today sell tomorrow idea or a sell today buy tomorrow idea and in particular would you be looking at picking up Infosys for a result play tomorrow?

I would avoid picking up Infosys because everything is built in into the price. So I don’t expect anything great to happen. It will be stock specific news specific and at this point of time I would avoid taking a buy today sell tomorrow or a sell today buy tomorrow because the market is not going anywhere and there are no clear signals. So it’s going to take some time, may be consolidate further. So I would avoid giving that call today.

What’s your sense on IT especially the bigwigs you spoke about the broader midcap stocks?

As I said more or less most of it has built in into the prices. Having said that, between the three - Infosys, TCS and Wipro - I see TCS, Wipro and Infosys in that order. It is into some kind of an upside but lacks not that strength where it can just take off. It can just runaway range bound in a 5% to 7% band. That more or less would be my call.