KPIT Cummins is a buy: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about KPIT Cummins.

What is the top stock idea for today?

It is the same pattern as yesterday, 3 buys and a short sell. Yesterday there was no bottom fishing which sustained. Today I am still betting on the bottom fishing. If the market decides to tank again later in the day, the three stocks that I have should not go down too much.

Stocks like Bharti Airtel, Dr. Reddy’s Labs and KPIT Cummins attracted some buying yesterday. Talking about technology as a whole, there is demand these days. So that should help KPIT as well which is not that defensive as the other 2.

IDFC again is a short sell. This one is rising at the moment. So I would only sell it if the market starts falling again. Right now the market is on a rise. So I would not go short at this moment.

What are the other stocks?

Technology is something to keep an eye on. Some of the banks might make a comeback. Bank of Baroda, Bank of India are good candidates for a comeback. But if the markets start reversing and going down, then look for real estate to short sell.