Avoid Essar Port and Essar Shipping: Rajat Bose

Rajat Bose, rajatkbose.com, talks to ET Now on Essar Group of stocks.

What is the call on Essar Group of stocks, Essar Port and Essar Shipping?

I am not too bullish at this point of time even though they are very close to their 52-week lows but there are no bargains here because the short term moving averages are sharply down. Either you take Essar Ports or Essar Shipping, they are looking pretty bad in fact. So one needs to wait for some more time and see if there is any kind of serious recovery attempt there. Then one can look at those stocks but if you ask me if I were to choose to trade Essar Ports or Essar Shipping, I would be exiting on rallies on not buying into them at all.