Ind Swift Labs not a very strong uptrend: Deepak Mohoni
It needs to distance itself from these levels. It is close to this one year low that it has been at. So not a very strong uptrend. I would probably not buy into it right now.
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| In a chat with ET Now, Deepak Mohoni, Director, trendwatchindia.com, talks about Ind Swift Labs.
ET Now: What is the call on Ind Swift Labs?
Deepak Mohoni: A lot of people invested in this stocks in November when the stock fell from Rs 160 to 85, that is almost 50% down within a month that is a very sharp sell off for a pharma stock and since then, it has been bouncing off 85, that was the low it had reached there. Even now, it has not really gone into a comfort zone above that 85 level. So that is a little bit of a lookout in the stock. It needs to distance itself from these levels. It is close to this one year low that it has been at. So not a very strong uptrend. I would probably not buy into it right now.
ET Now: What is the call on Ind Swift Labs?
Deepak Mohoni: A lot of people invested in this stocks in November when the stock fell from Rs 160 to 85, that is almost 50% down within a month that is a very sharp sell off for a pharma stock and since then, it has been bouncing off 85, that was the low it had reached there. Even now, it has not really gone into a comfort zone above that 85 level. So that is a little bit of a lookout in the stock. It needs to distance itself from these levels. It is close to this one year low that it has been at. So not a very strong uptrend. I would probably not buy into it right now.
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