Ind-Swift Labs in strong uptrend: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, director, trendwatchindia, talks about the outlook of Ind-Swift Laboratories.

You have a buy call on Ind-Swift Laboratories with a target of Rs 127. The stock saw a high of Rs 127 in yesterday's trade but it closed on the downside. Do you expect a similar trend in today's trade?

The market itself had reversed a little bit yesterday. A day before that, there was a good rally but yesterday there was a sharp decline in the beginning but today stocks are reviving again and the market is favouring stocks like Natco Pharma, Surya Pharma and Ind-Swift Labs. Every now and then, the market has a favourite type of stock or type of sectors. These second-rung pharmas are not only creating very high volumes right now but they also are in pretty strong uptrends and that is where this Ind-Swift Labs fits in. It is not normal that you find this kind of stocks being traded heavily but right now, these stocks are in favour. So it is basically just jumping onto that particular bandwagon.