Accumulation phase would be over for HCC above 30: Rajat Bose

Rajat Bose, rajatkbose.com in an interview with ET Now talks about HCC.

What is your call on infra space and particularly HCC is there more downside?

The problem with these stocks is that what I find they have gone into some kind of an accumulation mode but when would this accumulation get complete that is big question. Once HCC manages to stay above 30 would say that the accumulation phase is over but if it were to fall below 24 once again which I do not think it will but suppose if it were to fall below that then this accumulation may once again turn out to be a bit problematic.

Those who have accumulated at these levels would be forced to actually liquidate their positions because that would be an indication of fresh weakness setting in. So till such time it does not breach 24 traders or investors moving into this do not have much of a problem but for them crossing 30 would be pretty important.