Bombay Dyeing, auto components positive, Noida Toll Bridge weak: Sandeep Wagle

ET Now spoke to Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com, on his views on auto components, Bombay Dyeing and Noida Toll Bridge.

Any of these auto component stories?

Well the fact is that I am liking the pattern but they have moved up quite a bit and at this level may be one has to wait for some decline. At this level it may not make great financial sense but the pattern is very very positive and I definitely see some more upside to the tune of 5%-7% talk of Sona Koyo, Automotive Axles but whether to buy at this level I am not too certain I would wait for some correction.

How do these are looking on the charts Noida Toll Bridge and Bombay Dyeing?

Well Bombay Dyeing look sideways. It does not look weak and anytime the land story comes out and it can just flare up above 530. I see a good move in Bombay Dyeing to the tune of 560-570. At this point of time I do not have a very clear view. Noida Toll Bridge does not look strong in fact in spite of numbers you are saying I see some more downside. In case it breaks 30 it can go down to 2750-2800, so Noida does not look good at all.