Next target on Panacea Biotec around 148 to 150: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in a chat with ET Now talks about Panacea Biotec.

Panacea Biotec is at 176. What does one do with this one?

Just one observation: The last 3 days of the fall from 218 to 180 or the current price of 175 when Panacea have come with high volumes and it has got a very strong support at 174. These higher volumes on the selling side suggest that this support is likely to be broken and if that happens we can have the next target of somewhere around 148 to 150. So obviously it is not very good news for the bulls at all.