Don’t go for long on Mahindra: Deepak Mohoni, trendwatchindia.com

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about his stock recommendations and targets.

You have recommended a buy on BPCL and have got a short on Sterlite, Educomp, ABB and even Mercator Lines. Give us your targets and stop losses on the same.

Sterlite stop loss is 715, target is 688. These are all about 1.5-2% plays, idea being day trade or maybe just one or two overnights. If they finish weak then worthwhile continuing forward with them, that would be the right strategy. It is only the petroleum stocks that looked strong after Friday. Mahindra was also looking okay but I reckon with these market conditions, better not to take a long on Mahindra. That is roughly the position for traders today.