Breakout level is little above 230 for Bombay Rayon: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com spoke to ET Now on Bombay Rayon.

Bombay Rayon on the charts, it has been pretty much in this Rs 200 range for quite sometime, you see a breakout coming through here?

The breakout level is a little above 230, say 232.50 or thereabouts. It is certainly trying to get there but a lot of stocks are getting to these three-month high, four-month high levels where they are bounced down from like Reliance did and not succeeding.

So it has got as good a chance as any right now to break out. It is a wait and see if it does manage it. It is only Rs 5-6 to go from here.