Airline stocks benefiting from rally: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about stocks.

There is a fair amount of excitement that we are seeing in the likes of a Sparc which is up about 13%, Colgate has made a move up almost 12% but this is not as liquid and then you have some movers in aviation as well like Jet Airways.

Sparc does not trade that heavily but it has made moves like this and think with this revival of the intermediate uptrend today, the confidence comes back and you would start getting these double digit percentage gains. So this is one of many stocks benefiting in that manner.

Airline stocks are certainly benefiting from this rally. All of the three main ones ones are going up pretty sharply. So one day you will see Spice up, one day you will see Kingfisher - it is that sort of a move now. There could be among the top gainers for the next couple of weeks at least. So airline stocks are certainly to be watched out for. Otherwise today, we are seeing a lot of stocks getting in which had not participated about a week earlier. So that is also quite interesting but breath has changed - in the morning it was negative now it is positive.

So certainly a new move - short term move - within the intermediate uptrend has started an hour or two back and I think it is taking up a lot more stocks than the first one had done which is pretty strong for the market.