I recommend Hero Honda: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now, gives his call on Hero Honda



What do you think about Hero Honda?

Hero Honda is the stock which I recommend. I will be going long on it. This stock is making fairly interesting moves for the last month or two. It is also pretty good long term investment, so goes beyond a week as well and it is not too bad an idea as a day trade. Now all of these would have very different stop losses. So for a day trader, Rs 1845 should be just about the stop loss but the stock of the week notion, Rs 1800 makes a good stop loss, that is yesterday’s low and it did some breakout, it climbed up to something like a one week high yesterday and that closing should possibly mean a bigger move ahead. What is happening now though is it is quite jumpy. It has been making these spike moves. So it might begin its move really in a bigger way towards the middle of next week, it may need to settle down slightly before moving up again.