Hold Wockhardt, says Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "Wockhardt seen massive price appreciation during the period of November 2014 to Jan-Feb 2015. However, the stock has corrected sharply from its highs of Rs 1900 -1950."

 

"This is more of a consolidation phase and it appears that Rs 1200-1250 has a strong support for the stock. For the near term Rs 1450-1500 is a major hurdle. So long it doesn't surpass this level on a closing basis it is likely to remain sideways. So probably there is some more timewise pain left in the stock. Once the stock surpasses Rs 1500-1550, we could see some surge towards Rs 1700-1750 but in the near term the chances are low that one could see range of Rs 1500-1600."