Buy Andhra Pradesh Paper on declines: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com shares his views about Andhra Pradesh Paper Mills Limited.

ET Now: Would you initiate or would you think of initiating a trade on AP Paper on the long side after the 15% up move?

Deepak Mohoni: Not after it, but perhaps after the next dip. The stock has been running up for about two weeks now. Before that, it was quite flat like most of the other paper stocks. There is a good uptrend. But I would wait for a dip. Even a small reaction could be 3-4% down from here. So, you do not want to take that sort of risk for trading.