One-year target of 550 for Swaraj Engines: Sandeep Wagle

ET Now spoke to Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, on his stock recommendations.

ET Now: What's your outlook on Swaraj Engines?

Sandeep Wagle: If you have a look at the monthly chart of Swaraj Engines, it has given a very clear and a decisive breakout at a level of around 370. One move till 460-465 has already come. It is consolidating over the last few weeks, I would say almost 3 to 4 weeks.

I have a one-year target of 550 on this and the bullishness will continue, you will get sporadic moves in between and I would be more comfortable taking this call on a monthly basis rather than a 5-10 day trading basis.

As I said, I have a one year target of around 550 on Swaraj Engines and it's a very very clear breakout. Last month we have witnessed the highest volumes in the history of the stock, so I would be a buyer on every declines and this is a level to buy. I do not think it will go below 400 levels.