Banks may not be good trading ideas for next week or two: Deepak Mohoni

In an exclusive interview with ET now,Deepak Mohoni, Director, trendwatchindia.com, talks about high beta stocks. Excerpts:

For a shorter period of time, say over a week of trading probably, will you look at some of the high beta names to probably take a trading bet on or defensives are something you would go by?

Well, the highest beta stocks are probably in metals and real estate and they look too risky to go long in really. So the candidates are those stocks which had a good run up and are quite for the last 4-5 days. So you have got stocks like RComm, MTNL which after that sudden and sharp run up have had 5-6 days of peace.

If the market starts going up again, then these kind of stock should benefit. So I would say that do not buy them now. Not because of the roll over, but because there is no real up move right now. But if an upmove starts again, these could be good stocks. Telecom certainly and some of the FMCGs were also beginning to look fairly strong. So I think those could be the second line picks. Banks have gone a bit quite right now. So I think the banks may not be such good trading ideas for the next week or two.