Intermediate trend for IVRCL is down: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now discusses IVRCL, Nagarjuna Construction and Patel Engineering.

What’s your sense on some of these engineering companies, Patel Engineering and IVRCL?

Yes, they have been seeing a bit of pressure, IVRCL in particular has been trying to come out of it but it has got falling tops and bottoms for a while now a month or so, so intermediate trend is down. Again if the markets sort of starts getting out of this range, a stock like IVRCL will probably emerge out of it, so at the moment this is taking a bit of a backseat. Nagarjuna Construction, another one that has been a little bit lagging the market now.