Avoid trading in Patni for now: Deepak Mohoni
I would not trade Patni at all at this stage. It has not been too bad a long-term stock but when it comes to the short or medium term, I do not think this is really moving fast enough for traders.
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| In an interview with ET Now, Deepak Mohoni, Director, trendwatchindia.com, shares his views on the outlook of mid-tier IT stocks.
What's your view on the mid-tier IT lot, especially the likes of Patni, which is being driven by news flow? How do you see the chart patterns there?
Patni should be isolated because it is all about the takeover and right now it has gone sideways around the Rs 460-480-490 levels. It is not trending very much. The market is waiting for developments before giving the stock a bit of a push. So, I would not trade Patni at all at this stage. It has not been too bad a long-term stock but when it comes to the short or medium term, I do not think this is really moving fast enough for traders.
What's your view on the mid-tier IT lot, especially the likes of Patni, which is being driven by news flow? How do you see the chart patterns there?
Patni should be isolated because it is all about the takeover and right now it has gone sideways around the Rs 460-480-490 levels. It is not trending very much. The market is waiting for developments before giving the stock a bit of a push. So, I would not trade Patni at all at this stage. It has not been too bad a long-term stock but when it comes to the short or medium term, I do not think this is really moving fast enough for traders.
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