Essar Oil is a sell: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Essar oil.

What is your take on Essar Oil?

Essar Oil has been little bit under pressure for the last month or two. It has not really been rallying too well and even today it’s a sort of a slightly wishy-washy finish. The reason for having these two short sells in the middle of an intermediate uptrend is simply because some bit of a minor correction is happening globally and here. So may be the next day or two would be biased in favour of short selling and there are not too many stocks finishing at their best today. That is really the factors that came into play.