Gati in a very long-term downtrend: Deepak Mohoni

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

Have you looked at the charts of Gati?

Today’s move is a particularly strong one but if you look at it overall, it has been underperforming for a very long time. The stock used to be Rs 250 at the end of 2007. So it is clearly in a very long-term downtrend and the last three or four days have seen the beginning of a new move which at this point of time is probably best to treat as a short to medium term.

I cannot say if this has bottomed out for the long term and this stock is quite in contrast to say a Bluedart Express which is still trading very much close to its all-time high. So this is rather close to its two-year low and Bluedart is at its all-time high or very near it.