IOB is a good short-term trading candidate: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now discusses Hero Honda and IOB.

Two counters for you, a) Hero Honda amongst the heavies and b) IOB?

Hero Honda has been a surprising non-performer really over the last month or so but if you look at the history of the stock over several years even if it goes through a correction of this sort, it tends to bounce back and the long-term trend in this stock is still very much up, so given that it may just be a bargain to buy it now but perhaps do not expect fireworks for a month or so even, so that would be the attitude towards Hero Honda.

IOB is one of these bank rally stocks, quite volatile on the upside giving good returns but if you were looking for a longer-term investment, this would not be my choice of bank. It fails the criterion of being above its 2008 peak because if the company were doing better now than it was two years ago, its price should have been higher, so this is above to half that price, so I would just say a good short-term trading candidate.