Buy Sterlite Technologies on a dip: Deepak Mohoni
"If this stock is to be traded, either you trade it intraday even now with a very close stop loss or if you want to get into it medium term, wait for a dip and buy, that is always safer."
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| Updated: Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about Sterlite Technologies.
Sterlite Technologies on the charts?
In the medium to longer term certainly, the charts suggest that there could be more. Even short term if you look at the last 2 months in this stock, it has formed a base at 45, it has come down there twice and gone up. So it has bottomed out by the looks of it and as to the extreme move that we are seeing today.
This is probably some news driven item because until now, it was not such a quick move up as we are seeing today. So if this stock is to be traded, either you trade it intraday even now with a very close stop loss or if you want to get into it medium term, wait for a dip and buy, that is always safer.
Sterlite Technologies on the charts?
In the medium to longer term certainly, the charts suggest that there could be more. Even short term if you look at the last 2 months in this stock, it has formed a base at 45, it has come down there twice and gone up. So it has bottomed out by the looks of it and as to the extreme move that we are seeing today.
This is probably some news driven item because until now, it was not such a quick move up as we are seeing today. So if this stock is to be traded, either you trade it intraday even now with a very close stop loss or if you want to get into it medium term, wait for a dip and buy, that is always safer.
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