Wait for correction to buy infra stocks: Anil Manghnani

ET Now caught up with Anil Manghnani, Director, Modern Shares and Stockbrokers Limited, to get his views on the performance of the infra stocks.

A lot of people are talking about playing the infra stocks ahead of the budget. Have you looked at HCC or Lanco?

Not really. A lot of them are more in a sideways but if you look at the overall trend, they have been on the downside only over the last couple of months and Lanco has already bounced from Rs 40 odd closer to Rs 50. I would actually look to sell between Rs 50 and Rs 53, and then try to buy back again may be Rs 45-44 sort of levels. Wait for a correction but otherwise as a pack the infrastructure has not really showing great strength on the charts.