Bellary Steel may move up to 4-4.5: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in a chat with ET Now talks about Bellary Steel.

What is your view on Bellary Steel, on the charts?

The trend on it is down. It is quoting somewhere around Rs 3.3. Having said that, at this level it has a tendency to move up. So if one has bought it at higher levels, he should hold on but exposure to such kind of stocks should be avoided or cannot be beyond of certain percentage of your portfolio - possibly 10% to 15%.

I would not be surprised if in the next few weeks or months, this stock moves up to 4-4.5. So the range for this stock is 2.50 to 3 on the lower side, 4.5 to 5 on the higher side. That is what one has to play with.