BF Utilities a good buy with a target of Rs 1250: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com

BF Utilities on the charts?

BF Utilities is something which I have been closely tracking and I have got a breakout in this stock around 850-860 levels. It has already moved up to almost Rs 1000 but I see the move extend to around 1200-1250 over the next 3 to 6 months and the volumes that have occurred over the last 3 to 4 weeks of this month are something which have never occurred in the stocks. There is something extremely positive coming in and these are not distribution volumes. This looks like accumulation volumes and I think some story is developing and possibly as a trader one may not buy it but as an investor if it comes down by Rs 40-Rs 50 it will be a great buy or even at this levels because I am looking at a level of 1250 or so.