Jubilant Life Sciences has done too much on the downside: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Jubilant Life Sciences.

How does Jubilant Life Sciences look on the charts?

This stock actually has done too much but on the downside. It has fallen from Rs 450 to Rs 150 in about 1.5 years. So that’s a really sharp decline. It would be among the worst fallers among most segments and this move is coming a little bit of an improvement today or you could say it has been stable for the last one week. But it is still hovering a little too close to its recent 2-3 year low of Rs 160 for comfort.

The trend is likely to turn up. Long term, it is too early to see a long term of reversal but even the intermediate term trend is apparently down at the moment or could be sideways at best.