Hold on to Meghmani Org and Kanoria Chemicals: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com, talks about Meghmani Org, Andhra Sugar and Kanoria.

This entire space have you looked at it a Meghmani Org, Andhra Sugar up 15% and Kanoria is up 20% small not many liquid stocks normally but have you looked at the charts?

Well if you start with Meghmani that bottomed out in February. The stock has been in a pretty good uptrend since then but if you go into the past it peaked in the middle of 2007. It is way below that peak that was nearly Rs.50 or more so it is now of to a good start so I would say this may do pretty well in the bull market. It is a low priced stock so you get very high percentage moves if it gets going usually and indeed the stock is up 50% since earlier February and the same logic could be applied to even a Kanoria Chemicals which we just spoke about. Today’s breakout takes it straight from what was one month ago or two year low and it has gone straight to some thing like a two year high now so that is it was in a narrow range so you got the sort of thing happening. So at the moment certainly these stocks looked to be in favour but I would proceed verily I would hold them until the bull markets is on after that perhaps they would not be too good for extremely long term holdings may be good for a few months certainly.