Century Textile to remain bullish: Sandeep Wagle

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

Century Textile hasn’t really reacted with the Nifty, its done its own thing. How do you correlate it with Nifty now, do you really think its worth the risk for a shorter term period to go short on a Century Textiles? What if doesn’t follow the Nifty?

I haven’t taken a view based on the Nifty. I have taken a view purely based on the moment turn indicators. The oscillators are giving me a downward crossover. Normally when that happens, you have a sharp downside immediately to the tune of 4% to 5% beyond that. I don’t see a fall beyond that and may long term view in the markets as well as Century remains bullish so I would like to encash on that quick down move.