Buy Wockhardt on declines for: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services,talks to ET Now on Wockhardt.

On the charts at 450, what would you do with a Wockhardt?

A little uncomfortable at 450 when I spotted this stock at around 410-415 over the last few weeks but yes, nevertheless long term we have a target of 600 and beyond, so in that sense definitely a buy, so at this level, I would talk of a buy on declines.

I believe that 5400 is likely to be tested on the Nifty, so I do not want to be a buyer at higher levels on breakouts. I would rather wait for corrections but if you look at Wockhardt without the Nifty, I am very gung-ho about it and very bullish on the pattern.

I maintained my long-term target as well as my short-term target is somewhere around 480-485, so for me it is a buy on decline, so around 440-430 is an ideal level to buy that stock as of now for me.