Avoid Resurgere Mines: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia, speaks to ET Now about the outlook of Resurgere Mines.

What is your sense on Resurgere Mines?

Resurgere Mines is quite a spectacular chart in a way because it shot up from Rs 70 to Rs 150 within two months and then came right back down in the next two months. There was a nursery rhyme Grand Old Duke of York in which when they were up, they were up and when they were down, they were down. It is that kind of a stock. I would not buy this of course. There must have been some news flow or something which caused a big spurt but the fact that it has just come down straightaway, I do not think it is good news at all for the company.