No weakness seen in Cadila: Sandeep Wagle

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com in an interview with ET Now talks about Cadila.

What is the call on Cadila and some of these other names like Lupin or Aurobindo Pharma?

Very honestly I am not finding any strength in the short term either in a Lupin or an Aurobindo Pharma. Long term, they are all good patterns. Lupin specifically is a better pattern. Cadila is not weak. Even though it is 2% down, it is holding that range.

960 is a very strong resistance downside, 910-920 is a very strong support. So whatever the news is, I do not see a crackdown in Cadila. Nearer 900, I would be tempted to buy but I do not see an immediate move over the next few days. If you talk of the monthly pattern, you see the sharp rally over the last few months that has happened. Over the last 4 or 5 months from 720, this stock has moved to 960 or so. So some kind of a profit booking cannot be ruled out but I do not see weakness per se in Cadila specifically.