Buy Pantaloon Retail on decline: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com, talks to ET Now on retail stocks.

Pantaloon Retail and Shopper Stop, what would you suggest investors? what your charts indicate?

Well, yesterday I had said that I am not too bearish on the stocks and even I maintain that view. I do not see Pantaloon Retail below 200, any positive news in the stocks will fare up. But one has to approach the stocks with the hint of caution. Downside is limited, upside is to the tune of around 252 to 260 as I mentioned.

So, for me the pattern is still positive. There is more interest and I would still think of buying them on a decline but then one has to exercise caution.