Long term outlook on Cairn India positive: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com, in a chat with ET Now talks about Educomp, Cairn India and Moserbaer.

What do you make out of Educomp, Cairn India and Moserbaer?

Educomp is very sideways. Till it breaks a level of 560 with volumes, I do not see any upside. If it happens, then we can talk of a move up to 610-615. I do not have a view of 680 or 700. When a stock is sideways, you do not know how long it will move sideways. So I would rather not give a view. One can place a stop loss below 510 or somewhere around that so that in case it goes down, it does not have a further loss.

Cairn India calls for some element of profit booking. I see the stock coming down to 295 but that is a trading play. Long term is positive. Once above 321, this stock has the potential to go to around 340-345 and Moserbaer again is pretty sideways, range-bound between 60 on the lower side and 68 to 70 on the upside. I am not seeing that great strength. I would tell to book profits around nearer 68.