Textile stocks are at the sideways: Deepak Mohoni

In an exclusive interview with ET Now, Deepak Mohoni, Director, trendwatchindia.com, talks about textile stocks. Excerpts:

Bombay Rayon, Gokaldas on the charts?

Bombay Rayon of the lot is certainly the strongest at the moment but I do not know if the real estate factor is also helping it. Some real estate stocks are doing well in this rally. Gokaldas is still way below the peaks it had reached in the previous bull market, 2008 days and indeed that is the case with all the textile companies. So the textile story, there is nothing really much happening there. Those stocks are at the sideways. If they start going up, they would need a strong market to provide the conditions for a good rally there.