Buy Shanthi Gears on decline possibly 5%-10%: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, talks to ET Now on his views on smaller auto ancillary players.

Coming on those smaller auto ancillary players, we were talking about those a little while back. We spoke to NRB Bearings and of course the likes of Shanthi Gears that was very active yesterday. Fag Bearings is very active today. Are you spotting anything on the charts there that's exceptional?

The point is that they have already moved up quite a bit and in fact NRB Bearings, we were bullish 3-4 days back. There is still some more upside, it is what I can see because the weekly patterns are still positive. Shanthi Gears is looking good possibly somewhere around 54-55 it can test but I am not very comfortable buying it now. I would like to buy it on a decline possibly 5%-10%, one correction and one can go for it.