Buy Zee: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now, gives his buy calls


What is it that you are recommending today?

Zee, BPCL and Divi’s are the buys. The three buys are primarily because the market has opened hugely gap down and going short at this stage would be betting on an intraday continuation may not necessarily come, it is too much of a gap there. These three stocks are quite counter to the market. Zee Entertainment has been very stable stock recently. It is again showing not much sign of being affected by the sell off. So that is a buy. BPCL has always been running counter to the market since crude oil and stock markets got positively correlated. That is roughly the top of that 2008 bull market. Whenever the markets go down, these stocks go up and BPCL is an outperformer within the group. So we have BPCL as a buy. Divi’s Labs again pharma, defensive, lot of defensive stocks being bought today, if you look at the stocks which are in positive territory, they are all defensives and Divi’s again individually has been doing quite well lately. These three should be good for short term trades, day trades or even longer.