Shardul Kulkarni of Angel Broking told CNBC-TV18, "We have seen Wockhardt move from Rs 450 to Rs 700 and that particular move has taken place in just three trading sessions. For those who are bullish one should place a stop loss just below today's low at around Rs 645."
"If the stock breaks Rs 645, the current momentum which the stock is seeing will be lost and the stock can retrace back towards Rs 550-525 levels; 10-12 percent moves in case of Wockhardt are quite normal. So, place the stoploss strictly at Rs 645 level," he added. Disclosure: It is possible that we have positions in the stock discussed and we have recommended to our clients.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
