Short-term trend bearish in Punj Llyod: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in a chat with ET Now talks about Bajaj Hindustan, Punj Lloyd and Unichem.

Talking about Bajaj Hindustan, Punj Lloyd and Unichem - perhaps from a little longer perspective - do they have really a secular rally in place?

Bajaj Hindustan is almost down 100% or may be more than that. At this point of time, I do not see any buying emerging and as you said that technical analyst always follows the pattern. I am not seeing the road ahead, which is clear.

What about Punj Lloyd and Unichem?

In Punj Lloyd also, the short-term trend is bearish. Talk of the weekly patterns, it can make a bottoming out formation somewhere around 135-136 but till that point of time, I will not recommend a buy. I would rather buy it on the way up and no clear pattern, short-to-medium term trend down, it is what I will say.

Unichem Labs, this stock looks good. It has the potential to go up to 432-440, currently at 409. One can buy this stock at current levels or may be on declines up to 405 with a stop loss of around 400.