Buying Hindustan Copper today would be a great mistake: Rajat Bose

In a chat with ET Now, Rajat Bose, rajatkbose.com shares his views about the various stocks.

ET Now: What is the call on Hindustan Copper, STC as well as MMTC? How are the charts reading for the same?

Rajat Bose: If you look at Hindustan Copper then few days back, i.e. in last 3 trading session it was at a low of 161 and even today on the 4th day it is still rallying but it has come very close to the 200-day moving average at 242. This kind of sharp one way swing is generally halted around the 200-day moving average levels. If the news is correct and if the divestment will actually take place, then wait for a marginal decline because they have risen pretty fast and then one can contemplate moving into these stocks as investments but buying today would be a great mistake.