Avoid KS Oils: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker, miteshthacker.com, talks about KS Oils.

What is the call on KS Oils?

One is that we have no signals of reversal happening over here. Very clearly, the downtrend is firmly in place. Now what levels or what targets could be met is difficult to say right now but it is very likely that because of clear absence of any support levels that the recent lows or rather 2008-2009 lows could partially be tested in some cases.

These stocks, which are very clearly exhibiting one extreme strong downtrend, secondly they are clearly underperforming the markets, should be avoided from trading as well as investment point of view as of now.