IVRCL looks weak in the short term: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com in a chat with ET Now talks about infrastructure stocks.

One more set of stocks and which have not done too much in trade today are the infrastructure stocks, the likes of an IVRCL or a Lanco Infra, a bit of a downtick coming in today but could we bought into or you would still wait?

Well, there is no signal specifically, so I would still wait. Short term is definitely looking weak but long term is not looking that weak. IVRCL could go up to somewhere around 155, which could be 18% from current levels and there is a very strong support and if the Nifty holds and you do not see a crackdown, the stocks will start moving up again, so that is a level where one can think of buying but I do not have a long-term pattern, which suggests a buy and one way upside move, so till there is a pattern, it is better to not to give a view.