Bullish on DLF and banking stocks: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com, in a chat with ET Now talks about banking and realty stocks.

Purely on the chart basis in the last leg of the rally, we have seen banking really come to the fore. From here onwards for the next 10% till we make it to the top, which sector do you think would be at the fore?

Banking would continue because I do not see any weakness in any of the major banking stocks, which form a part of the indices. Realty is one sector I would closely watch out, the move that DLF and Unitech have given, I am seeing something more, in fact I was not that bullish over the last few weeks in this realty space but specifically in DLF, the weekly patterns are posing out very well and this stock plus some selective pharma and some mid-caps will lead the way because I do not see any sector, which can be a sell at this point of time. At the most it can be booking profits, so when you have that, it will be an all-round rally lead by banking supported by realty and some other individual stocks.