Buy Development Credit Bank: Deepak Mohoni

ET Now spoke to Deepak Mohoni, Director, trendwatchindia.com, on his view on Development Credit Bank.

Development Credit Bank. You have a buy call on this one, what is your reading on the charts?

The banks have started rallying again since the beginning of this week. They were a little quieter compared to other stocks since September but banks are back in business so are midcaps and this is a bit of both so, should be good potential. I mean the whole idea is to see something outperformed the index which itself is doing well and this would fall in that category. It has been making a pretty good move. The pick is for day trading, for short term trading 2-3 days period but you can hold on longer if the market sustains as it is doing right now.