Profit booking advisable on Hindustan Copper: Sandeep Wagle

In a chat with ET Now, Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, shares his views on the outlook of Hindustan Copper.

How does Hindustan Copper look on the charts?

Hindustan Copper moved up by almost 18% in a day. There is very little you can really do at this point of time. In the afternoon, it was at Rs 415-420 and was a great buy. I would have talked of booking profits, taking a day trade out, but definitely not at Rs 460-465. Although I see an upside, these are stocks which move like this and they are more related to event based and news that come out. I will not recommend buying at this level. In fact, some profit booking is advisable because you will get a chance to buy at lower end to Rs 420-430.