'Don't go short on Bajaj Hindustan, wait for it to fall again'

ET Now caught up with Deepak Mohoni, director, trendwatchindia.com, to get his views on the outlook of Bajaj Hindustan and Jindal Saw.

Are you specifically focusing on Bajaj Hindustan and Jindal Saw? Do you think both the sectors are under severe pressure and so perhaps the short is what's making sense whether it is Jindal Saw or Bhushan Steel?

Bajaj Hindustan today is going up and it has also already hit the stop loss, so I would say that do not go short now, wait for it to start falling again. The long-term trend is very much down, nothing has changed there but you do want to protect your capital, so Bajaj Hindustan is now ruled out for a short sale today unless there is a reversal later. Jindal Saw, I would not say necessarily it is a sectoral thing. The whole group companies have also been coming down quite sharply. It has been one of the faster fallers, if you look at it, it was over Rs 225 or so barely a month ago, so as a percentage drop, this is falling quite sharply. It is a pure momentum play on a stock that's showing fairly strong decline at the moment.