Zee Entertainment looks good but volumes are very low: Sandeep Wagle

ET Now caught up with Sandeep Wagle,Founder & MD, APTART Technical Advisory Services, aptartindia.com to know his views on various stocks.

Cairn was up 3.5%, futures share about 3 lakh shares an open interest, what is up with it technically?

A bounce back of up to 270-272, outer side 77-78 is possible. Some profit booking and some selling can come in. So a strong bounce back as is true with the whole of the market is expected. Nothing specific related to the stock.

Which among Aurobindo Pharma, Strides Arcolab which showed quite a bit of a spunk yesterday do you like?

Cipla is liked for a very short move of possibly around Rs. 12-15, not that the other ones are not liked, Lupin and Aurobindo, they have already moved up. Some move is seen in Cipla, can take the price to somewhere around 338 to 340, 6% to 7% upside trading bounce is what is expected.

Your take on Zee Entertainment?

Zee Entertainment looks good but volumes are very low. This does not suggest a very big up move, possibly 272-275 with the market. The target would be to wait and watch instead of buying.