Do not buy GE Shipping, hold on to Jet Airways, TTK Prestige and Sintex: Deepak Mohoni

ET Now spoke to Deepak Mohoni, Director, trendwatchindia.com, on his views on Jet Airways, TTK Prestige, Sintex and GE Shipping.

These are your picks from midcap side, Jet Airways, TTK Prestige, Sintex and GE Shipping and three of them have a comment do not buy or hold for the long term and that for Jet Airways, Sintex and GE Shipping walk us through that so you are saying just for a day and why not for the long term because you think should the market move southwards, they could take a bigger hit than usual?

Indeed but first of all GE Shipping is actually short sell recommendation so that's not buy even for the short term. In fact all the shipping stocks perhaps linked to the Baltic Index may be telling us something. Shipping stocks are looking quite bad Mercator, Great Eastern and even today Great Eastern is down 1.5%. So Great Eastern is anyway ruled out as a portfolio stock but it may even be a good trading short sell. The other stocks like Jet Airways are too volatile on the downside so if there is a big market correction they will take chunk out of your portfolio. Sintex same thing goes for it and while Sintex is rallying quite well it still not caught up with 2008. So I use that as a benchmark to see how the companies doing compared to 2008 after all the market would be the best indicator of companies performance. As against TTK which is again in that category of stocks which is persistent strong rallies not large declines in the last 18-20 months so this is good for the long term but the stock that have been picked the time duration given with those targets is really for either a day trader or for a swing trader who would hold on to it for a 2 or 3 days until the target is met or is trailing stop is not yet.