See further downside in Wockhardt: Hemen Kapadia

Hemen Kapadia of KRChoksey Securities told CNBC-TV18, "For Wockhardt Rs 1,130 was a crucial weekly support and we have taken that out after almost nine months. This means that we are going to see further downside. It is difficult to quantify how much we could go to but technically speaking there is something at around Rs 950 but the major important level comes at around Rs 890. That is where somewhere between Rs 890 and 950 we could see a possible bottom. Once that happens, we will see a bounce back roughly to Rs 1,300 in the next three months or so."The share touched its 52-week high Rs 2,000 and 52-week low Rs 1,117 on 08 April, 2015 and 03 February, 2016, respectively.