JayCorp, Indian Hotels, Idea Cellular see good volumes: Sandeep Wagle

ET Now talks to Sandeep Wagle, Founder & MD, Aptart Technical Advisory Services, www.aptartindia.com (Technical Check).

Couple of midcap stocks, JayCorp, 26 times average volume but all we saw was 2-3 big leap candles, essentially somebody just came in and bought whatever was available. Does that mean it is a sustainable rally? M&M Financial Services, I cannot figure out, one day it moves up, second day has a downward freeze, Indian Hotels and Idea Cellular, any of these stocks are day trading idea?

M&M Financial Services possibly no, all others possibly yes. When you talk of day trading ideas, basically you play for a bigger move and if a 3-4% move comes during the day to encash on it, do not play with this thing that it will only be a day trading idea. So all of others I am seeing a good pattern, strong pattern, good volumes and possibly one can look at making 3-4% in a day.

So you are saying that in the case of JayCorp or Indian Hotels, Idea Cellular, if you are not getting the day move, it is okay to carry over the position for a day.

Absolutely right.