Stay invested in Wockhardt: Deshmukh

Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Akshata Deshmukh See what other Experts & Brokerages are saying about Wockhardt See messages about Wockhardt Wockhardt BSE | NSE 10/02/12 Are Mutual Funds betting on Wockhardt?

Stay invested in Wockhardt , says Akshata Deshmukh of Networth Stock Broking.

Deshmukh told CNBC-TV18, "In Wockhardt there was a very strong rally that came in, Rs 210 to Rs 213 is the strong support level because that is where the 50% retracement level appears. So that is like a very strong support level for the stock. Long term charts are looking quite strong right now; probably the stock will retest its earlier high and continues to attract volume based activity. So I believe it is a clear favorite amongst traders also. One can continue to kind of stay invested or make a fresh long position in this."

She further added, " Bajaj Finserv has been quite volatile sometime back but again the long term chart I believe is quite strong even at current levels."

" Venkys is one stock which I have been tracking of late because again volume based activity continues to take place. Rs 700 to Rs 750 was a clear resistance level but like we can see, even beyond those levels the rally continues. So Rs 900 to Rs 925 is where I think the stock can head but traders need to be careful because any kind of sharp rally also attracts a sharp correction post that."

Disclosure: No personal holdings for me but recommendations have been there for clients.