Don't buy Ceat at this level: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in an interview with ET Now talks about Ceat.

Some of the tyre stocks, Ceat is a case in point of course, up 13%. The rest are also showing a bit of a perk up... anything looks interesting?

Well, I am not very fancied by the patterns. Some more upside possibly yes with the market, but I do not have a clear pattern which justifies 10%-12%-15% upside. Ceat, possibly it is more to do with the land play and cannot be bought at this level because the stock has already moved 13%. The financials or the risk to reward may not match at this level.