Bearish on Servalakshmi Paper: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now, gives hia views on Servalakshmi Paper


What are your views on Servalakshmi Paper, Mandhana and Coal India?

Servalakshmi Paper is one of those stocks, which after listing has been just sliding continuously. It listed at about Rs 20, it is down to Rs 12 and still not bottomed, so that does not look so good. Mandhana is one of the most volatile stocks going around right now. Even a year or more after listing, it still swings up and down, dramatically 300% up in the first six months, 50% down in the next six months, so this is a highly volatile stock. Coal India is an interesting one because it has been making pretty good moves sporadically and today’s 3% move may spell that the direction of the last week is over for Coal India. In fact if more stocks like that start bottoming out, we might see the market finally hit an intermediate bottom, so we first need individual moves, then enough of them happened, the index itself starts improving.