Godrej Properties interesting but wait for a decline: Deepak Mohoni

In an exclusive interview with ET now, Deepak Mohoni, Director, trendwatchindia.com, talks about Godrej Properties and Godrej Industries. Excerpts:

Godrej Properties and Godrej Industries two stocks up in excess of 5% gains coming in there what do you make out of the charts here?

The whole Godrej Group has been doing fairly well in the last 2 or 3 months. The consumer companies probably the best on the charts. It has got a nice steady uptrend but Godrej Properties is interesting because this was listed about now 4 or 5 months ago and you do not find too many new listings may be you find one in 10 or so which managed to be at new highs after listing 5 or 6 months and this is one of them. So its definitely a watch I would not buy it simply because of the market conditions this uptrend has been for a while and it may be finishing now. But this certainly looks like a buy on dips so I would say that Godrej Properties is interesting but wait for a decline.