Exit RNRL at every up move or even at current levels: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com in a chat with ET Now gives his perspective on RNRL.

RNRL, I am sure there are some because a lot of analysts recommended that stock at one point. What do they do, I mean because the losses have already piled up and now you do not know whether this is going to stabilise or what do you think has to be done with RNRL, just from a simple chart perspective?

Well, if it has not had the strength to move up today after such a downfall on Friday and in the market, which is where the Nifty is 75 points up, that says it all. Having said that, I see a downside target of somewhere around 42 and in case that is broken, there is an outside chance that it can test 36, so for me, every up move, every rise is an opportunity to exit, possibly one can even think of exiting at current levels.