Avoid Jai Balaji: Deepak Mohoni
If you look at the last one or two weeks when the market has been relatively stable, it has done nothing for the stock, so this is continuing down.
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| In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com talks about Jai Balaji stock.
How does Jai Balaji look on the charts?
Jai Balaji, it in fact peaked at over Rs 325, about 350, not so long ago, middle of October, so this is in a pretty severe downtrend and if you look at the last one or two weeks when the market has been relatively stable, it has done nothing for the stock, so this is continuing down. In fact if it continues the same way below 175, its down straightaway to a two or three-year low, that would be lower than catching up with the recent bear market prices, so that’s a fairly bad downtrend in the stock.
How does Jai Balaji look on the charts?
Jai Balaji, it in fact peaked at over Rs 325, about 350, not so long ago, middle of October, so this is in a pretty severe downtrend and if you look at the last one or two weeks when the market has been relatively stable, it has done nothing for the stock, so this is continuing down. In fact if it continues the same way below 175, its down straightaway to a two or three-year low, that would be lower than catching up with the recent bear market prices, so that’s a fairly bad downtrend in the stock.
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