Exit CARE on bounce around Rs 1600: Sandeep Wagle

Sandeep Wagle of powermywealth.com told CNBC-TV18, "In Credit Analysis and Research (CARE) the pattern is not very positive. At higher levels, Rs 1,650-1,680, somewhere around that, there is a lot of resistance and I do not see the stock crossing that in a hurry. So I would recommend an exit on a bounce around Rs 1,600 levels and in case it goes down, Rs 1,450 has to be the stoploss."

At 15:02 hrs Credit Analysis and Research was quoting at Rs 1,507, up Rs 3.35, or 0.22 percent.

The share touched its 52-week high Rs 1,800 and 52-week low Rs 1,139 on 10 July, 2017 and 19 September, 2016, respectively.