Can buy MTNL on dips: Deepak Mohoni, trendwatchindia.com

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about MTNL.

What is your view on MTNL on the charts?

It has reacted today, down 2.5% but this has come after it has made a 30% move in something like a month. So there is quite a bit of momentum on the side of the stock and the stock had also gone up without any expectation of this 3G news. So I would think that this is just a minor speed breaker in the stock.

Its medium-term trend anyways, is currently up. Telecoms are doing well, so I would perhaps even say, buy it on dips. When this decline show signs of stopping in MTNL, it might give you pretty good returns over the next couple of weeks.