Archies likely to correct with the market: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com, shares his views on Archies.

What is the call on Archies?

Archies started its intermediate uptrend along with the market in December 20 and has notched up gains of about 40% since then. Being low price stock, it is moving with the market.

I do not see it doing anything very differently from the market. So, you could expect this stock to correct with the market and rally again with the market, nothing spectacular but not too bad either.

Long term trend is down though, it is still below the 200 DMA.