Have a target of 1755-1760 in L&T: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com, in a chat with ET Now talks about L&T, BOC India and TNPL.

With respect to an L&T, we are seeing that volumes are thinning out a bit but it has been on an order winning spree. How much further do you think it can go?

We had a buy on L&T on Friday. Unfortunately, that has not moved up so much but it will move in the next couple of days or possibly 4-5 days. We have a price target of 1650-1660. So another Rs 50-60 upside on L&T but definitely between the two at this point in time, I would go with BHEL.

What is your take on L&T, BOC India and TNPL on the charts?

L&T, we have been bullish, we have recommended a buy on Friday in L&T. My target is 1755-1760, I mentioned 1660 earlier, that was an error. I see a 4-5% upside in L&T, long-term obviously it is much more positive but immediately as a trading play, one can expect a move of around 1750-1760.

BOC is a stock, which we have recommended at around 225-230 last week, very strong weekly patterns and you see the price already, it is 4% up. Even at current levels or possibly some kind of a decline to the tune of around 234-235, this stock can be bought with a target of 260-265, so another 7-8% up.

TNPL, I do not have a very clear view. We were bullish in the past week, the stock has moved up quite a bit, so at this level, I will not recommend a buy on TNPL.