Sterlite and Hindalco can be bought at current levels: Sandeep Wagle, APTART Technical Advisory Services

Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com in a chat with ET Now talks about the metal space.

What is your take on some of these PSU metal companies and also some stocks from the metal space, in particular Sterlite? Do you think it is a good buy right now?

I will start with the metal space first. Sterlite and Hindalco can be good trading plays with a 5-7% upside from the current levels and can be bought at current levels or possibly 2-3% downside.

Talk of the PSU lot, most of the patterns - Hindustan Copper, STC, Dredging Corporation - are almost the same and they tend to be more news driven and volatile. So I would not recommend entry at these levels. One has to enter them when they are beaten down and there is a lot of negativity around them and wait for a few months and then they move up, that is the way you should play them.

If you try to play them when they are going up, you can be trapped on the wrong side and these are not trading plays. They are long-term or medium term with a 2-3 month time horizon, investors only should play in that. So I will not recommend any of this at the current levels.