Neutral on capital goods space: Sandeep Wagle

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

Do you like anything in the capital good space?

Alstom was news based. Larsen is looking positive.

BHEL is not looking positive. In terms of a trader, I would not be comfortable buying BHEL. If you are an investor with a longer term, 6-12 months, BHEL can be picked up because it is down but I would not single out anything other than Alstom and I would say that Alstom has already moved up and whatever the news that has come in today has already been discounted in the prices, so definitely I will not talk of that kind of strength that I see in the rate sensitives, specifically banking and I am comfortable even at these levels to buy some of the banking stocks like an Andhra Bank or a Bank of Baroda, which we have recommended at much lower levels. I still see some more upside from the current levels, so having said that, I do not see bearishness in the capital goods space but not that comfort buying at these levels.