Hold Wockhardt, advises Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Wockhardt has seen a sharp decline from Rs 1350 to Rs 340. On the way we had series of lower circuits, so confidence was clearly shattered in this counter. But in last one month things appear to have stabilised. At most, we can have a trading bounce, so on the higher side we can see levels of Rs 500 which should be the upper band of the stock. It will be difficult to cross this resistance mark, so I think one should hold on for a short-term trading purpose and exit around Rs 500."

"REI Agro is kind of an illiquid stock in nature because it is consolidating at lower levels but I feel that it would be difficult for the stock to cross the levels of Rs 10-11. At higher levels one should be looking into cashing the stock," he said.