Buy JSW Steel on breakout: Deepak Mohoni

How does the chart of Bellary Steel look to you?

Deepak Mohoni: It is really a penny stock and it has not done very much. In the last one year, it has fallen from Rs 5 to half that price, started to go up now, so even now the stock does not look particularly exciting except that it has entered some sort of an uptrend.

JSW on the other hand is far more promising, it is in a range now for the last year or so between Rs 1000 on the downside, Rs 1300 on the upside. One of these many one year, two-year stocks, which are at the top of the range and we wait for a breakout a bit like a Reliance or a Tata Power, JSW in that category.