Bandstop filtering using Wavelet filter/transform

Is it possible to design a bandstop filter using wavelet transform method? The sampling rate is 50 Hz. For measured input data, the cut-off frequencies are in the 0.02-0.08 Hz range. Is Wavelet tranform flexible enough to design for such small band without introducing lags?

[Pranav]

I have gone through most of the community questions here. But there is no reference to bandstop filtering using wavelet method. Please can anyone guide in this regard.