Hindalco a good bet in the metal space: Sandeep Wagle, APTART

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in a chat with ET Now talksa about Hindalco and his other stock ideas.

Is there any particular stock from the metal space that you are particularly gung-ho on right now?

Hindalco is a stock which we recommended today at around 228-29. For short-term traders, the target is around 234 but I see a move extend till 245. On Tata Steel, I see another Rs 10-12-15 from current levels and we have been recommending this over the last couple of weeks time. So I am not gung-ho but I see still some more upside. Hindalco at this point of time would be my best bet.

Is there anything either on the long side or on the short side at the current market price?

Yes, we are bullish a bit on Hindalco. We see a target of somewhere around 242-245. At current level of 232, it still offers a 5-7% upside. We are bullish on Asian Paints. We see a 5-7-8% upside over the next 5-7 days and we are bearish on Dr. Reddy’s at current levels and Sun Pharma. I see a fall in both of these stocks to the tune of 4-5%. So these are the four trading ideas that we have advised our clients.