Not bullish on realty and infra stocks: Sandeep Wagle

ET Now caught up with Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com, to find out his views realty and infra stocks.

What do you make out the opening at the moment and now those who have some real estate stocks like a DLF, Indiabulls Real Estate, Unitech, what do they do? Those who have some infra stocks like Lanco Infra, IVRCL Infra and some of the other infra stocks GMR perhaps, what do they do?

About Nifty opening, as per expectations. I see some more downside, possibly 4830-4800. So possibly another 1% or 2%. I expect some support to come in at that level but sorry, DLF and all those realty stocks and the infrastructure stocks, I do not see any strength. At that level on the Nifty say around 4800-4820, possibly some bounce back can happen but I am not in favour of buying them, but if somebody is holding them, then he should hold them because if 4800 becomes a support and the market bounces back to 5000-5050, that would be the level to book a loss or whatever on exit. At this point in time, I do not even recommend an exit also.