Not much downside in Lanco: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com, in a chat with ET Now, gives his views on Lanco


What are your views on Lanco and J Kumar?

I don't see much of downside in Lanco but that does not mean one has to buy into it, the long term trend is still down. It may move sideways and between Rs 22-23 but I do not see anything though the volumes today are positive.

JKL I think, Rs 145 to Rs 148 can be expected at a current price of Rs 136 so we can talk of a 7%-8% upside and certainly it seems to have made up bottom at around Rs 126-127 that will not break is what I am getting a feel based on today’s charts and very strong support that will hold but range bound between Rs 148 and on the downside Rs 125 is what I will talk of. I would not talk of a bigger move unless Rs 148 is taken out with volumes and a strong price action.