Go for Reliance Media Works for a long term: Deepak Mohoni

In an interview with ET Now, Deepak Mohoni, Director, trendwatchindia.com, talks about Reliance Media Works.

Technically some of these stocks, Reliance Media Works, probably a couple of these others as well, anything that looks interesting on the charts?

Not really much going for them. If you take Reliance Media Works, it had that single day jump of 35 or 40% early October, there was a rumour associated with Disney that time. Now we are back to the same price from where it had jumped, so this shows that it does go up in spikes whenever there are some news announcements but it does tend to sort of decline and we are still way below the peak it reached in 2007, that’s Rs 1600-1700, so this is a clear long-term downtrend this time, not really come out of it yet but you do get these great spikes in these companies every now and then.