Exit Amtek Auto, says Sandeep Wagle

Sandeep Wagle of powermywealth.com told CNBC-TV18, "I am bearish on Amtek Auto and I don’t see any strength in the stock. If at all there is a bounce back that bounce back can extend to Rs 37-38, Rs 40 is a very strong resistance. I don’t see that level being crossed in the short-term, so in that sense I would recommend an exit and you would lucky to get a Rs 37-38 , should just exit around that."At 15:19 hrs Amtek Auto was quoting at Rs 29.65, down Rs 0.25, or 0.84 percent. It has touched an intraday high of Rs 29.95 and an intraday low of Rs 29.55."I would advise an exit on a bounce back in Monte Carlo Fashions around Rs 385-390 and Rs 400 again is a very strong resistance which I don’t see being crossed in the short-term at least. Anywhere near that 1 or 2 percent near that I think this stock should be exited.""Tata Elxsi is a positive stock but rangebound in the short-term talk of the next three-six months or maybe more than that. I see the stock in the range of Rs 1,600 to Rs 2,300. In case one gets Rs 2,200 and wants to book profit, I would advice to go for it. I do not see the stock running out of Rs 2,300 and once that happen it can even go to Rs 2,700-2,800 but in the short-term that is very unlikely."