Wait for a dip closer to maybe 43-42 levels to buy Lanco: Anil Manghnani

ET Now caught up with Anil Manghnani, eqwise.in, Director, Modern Shares and Stockbrokers Limited to get his views on the Lanco Infra stock.

What is your view on Lanco Infra or GMR Infra?

It took support just below the 200 around 40 which is a major support level but having bounced back nearly 25%. If you have been bold enough to buy the fall, it warrants a profit taking because to get 20-25% now in this market is unheard. Most of the big bang moves were happening between 5200-5300 on the Nifty.

Now with the market having come down so much, its retail side is not very convinced or anything of playing the midcaps or even small caps that aggressively. If you are getting that kind of returns, it definitely warrants a profit booking. Wait for a dip closer to maybe 43-42 levels to buy again but here, I would recommend at least in Lanco since it has already bounced by Rs. 10 to take some profits.