Don't buy textile stocks: Deepak Mohoni
ET Now talks to Deepak Mohoni, Director, trendwatchindia.com on textile stocks.
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| ET Now talks to Deepak Mohoni, Director, trendwatchindia.com on textile stocks.
There has been significant run up coming in textiles stocks, everything running up 16-17% but yesterday they kind of vanished off , was it a flash in the pan? Do investors in these stocks need to close the position; will they run into a circuit freeze downwards? What do you do if you picked anything related to textiles?
The overall interest in this sector seems to have been short-lived. There was a little bit of a run up but again, it has gone back to where it usually is. Somebody who has got long term holdings since the bull market is not necessarily over yet, they can hold on and hope.
Buying would not be really recommended, it is time to define as to below what level they get out form here whether they have a profit or a loss because I do not think this is a sector you want to hold in bad market condition.
There has been significant run up coming in textiles stocks, everything running up 16-17% but yesterday they kind of vanished off , was it a flash in the pan? Do investors in these stocks need to close the position; will they run into a circuit freeze downwards? What do you do if you picked anything related to textiles?
The overall interest in this sector seems to have been short-lived. There was a little bit of a run up but again, it has gone back to where it usually is. Somebody who has got long term holdings since the bull market is not necessarily over yet, they can hold on and hope.
Buying would not be really recommended, it is time to define as to below what level they get out form here whether they have a profit or a loss because I do not think this is a sector you want to hold in bad market condition.
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