Buy Axis Bank and sell Zee Entertainment: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in a chat with ET Now talks about his recommendations on Axia Bank, Nalco and Zee Entertainment.

Your stock ideas, not necessarily linked to the budget. You have a buy on Axis Bank and Nalco and a sell on Zee Entertainment.

Yes. Axis Bank has been doing quite well for over a month now. It has been outperforming the market anyhow and the budget has also given it a bit of a boost. Given that, this looks like the bank with the maximum momentum at the moment. Every time there is an uptrend, metal stocks start going up. Sometimes it is steel at the fore, sometime it is zinc, sometimes it is aluminium. This time it is aluminium, both Hindalco, Nalco have shown strong moves.

Zee closed quite poorly in the budget session, it has gone to several weeks low. This is a sort of a market. Even when there is an uptrend, you will find some stocks falling. When there is a downtrend, some stocks are rallying. So it is reasonably okay to trade both ways. Therefore, a short sale is always useful to have around and Zee falls into that category.