Every decline in HPCL should be used to buy: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in a chat with ET Now talks about HPCL, Thermax, Praj and Bharti.

What is your view on HPCL, Thermax, Praj and Bharti?

HPCL is the one we are picking up. We have recommended this at much lower levels, but even at these levels or maybe a little lower, I see the structure changing. I also see the main pattern changing and we have a long term target of somewhere around 540-550 and this is a 3 to 6 months view. Every decline in HPCL should be used to buy.

For Thermax, our view is positive. Medium-term target remains around 110-115, but one can wait for some declines to buy this stock - somewhere in the region of 740 to 730 and keep a stop loss of 700.

Unless Praj crosses 84, the trend remains bearish or pretty sideways. I do not have a very clear view. Downside, I do not see it below 76.

We are not bullish on Bharti. In fact, RComm has moved, Idea has moved, but Bharti remains to maintain the upswing. It may not break 255 on the lower side as well. So it will be range-bound between 255 and 270 - that is what the view is.