Hero Honda, a short-term sell; avoid PNB: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services gauges Bajaj Auto, Hero Honda and PNB, among other stocks on ET Now.

What are your views on Bajaj Auto, BILT and Hathway Cables?

Sandeep Wagle: Hathway Cables is a very new stock, so cannot really give long-term targets and I do not see anything happening. Very listless. Bajaj Auto, positive, but I would recommend booking of some profits in the region of 2540 to 2550. Currently it is 2490. And BILT, I see a momentum till around 36.50-37.00, but I would have liked to buy this stock at around 32. It is already 3.5% up. So on a corrective, this stock can be bought for a target of around 37.

You have a sell call on Hero Honda and PNB. Can you explain?

Sandeep Wagle: This is a small corrective. We are playing for a 2-2.5-3% trading downside where the market is correcting a bit. Hero Honda has been maintaining and moving sideways and yesterday it showed some semblance of weakness or correction. So that correction can continue further to the tune of 1950-1960. The view is not beyond that. Our longer term target on Hero Honda is much much higher. So if somebody is a trader with a 2-3-4-day time horizon, this stock can be played for. PNB we had given a sell, but the way it has moved, I do not think it makes a case for a sell at this point of time. So traders should avoid this stock at this point of time.