Not positive on Mercator Lines: Sandeep Wagle, APTART Technical Advisory Services

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

What is your view on Mercator Lines?

If one has taken a position in futures, I think one has a short term view in mind - possibly a month or so and my view is not positive. It has broken down the all important level of 56 and I think it can test somewhere around 52 where it may find support.

So in case he gets a bounce back today to the tune of 57-58, I would talk of exiting because of lower levels and these stocks when they fall they tend to fall very very fast. Such kind of stocks one should avoid taking an exposure in F&O because there are problems of liquidity also. They move up very fast, they also fall very fast. That is what one has to bear in mind.