Book profit for SKS: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now, talks about SKS Microfinance


What is the call on SKS Microfinance?

Three -four days back when SKS crashed, I had advised that do not go short on it or do not sell it off now because it had already risen about 10-12% of the low of that day. That was the first indication that there was buying in that stock. Now it has run up for three or four days. I would think that somebody has got the stock, they should book the profit now, simply because two upper circuits, another rally, it has come after a very big sell off. It may not necessarily sustain. Of course the best strategy is not to just sell into the market but use a trailing stop. I would stay put a trailing stop now of Rs 350 for SKS Micro. If you have SKS, Rs 350 is a good trailing stop, you will retain a lot of your profit if you bought it in the last two-three days and should it go up, you still have the position, so either way you win.