Downtrend to continue for infra pack: Devang Visaria

ET Now spoke to Devang Visaria, Chief Strategist, devangvisaria.com, on his view on the midcap infra stocks.

One word on the midcap infra stocks, the likes of an HCC, an MSK Projects and ARSS Infra. All of these are down in trade, would they continue to see more selling pressure?

Just looking at the steepness of the fall and fact that everything has just been hammered out of shape, they are likely to go ahead and continue with the downtrend and not much of an opportunity on the long side, even the brave hearts like the stock.

So if you are liking it fundamentally also, you would tend to hold back your buying decision because of the sharp fall over the past few days. So they are likely to continue seeing the fall like you saw in LIC yesterday, it was up around 8% or 10% but again it is down today to new low. So this is likely to continue for the next few sessions at least for the infra pack.