Buy Mercator on declines: Kulkarni

Buy Mercator on declines, says Shardul Kulkarni, Senior Technical Analyst at Angel Broking.

Kulkarni told CNBC-TV18, "Mercator has given strong rally from Rs 16-16.5 right up to Rs 24-25. Any decline would be used as an opportunity to buy but the decline should be significant, first of all, declines should be near to the levels of Rs 19.5-20 so that is substantially far away from the current levels."
He further added, "These stocks have started giving the first signs of life after being thrashed from the levels of Rs 75-80 to the level of Rs 16-17 and I think it makes sense that you can buy these counters. The timeframe is a little longer approximately three-five months but I think this should be one of the buy candidates."