Lack of some stocks sustaining in trending markets may persist: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in a chat with ET Now talks about the unsustainable behaviour of some stocks in trending markets.

Corporation Bank yesterday did about 6%, just dropped off the cliff today, Glenmark did that about two days ago, again dropped off the cliff, Shriram Transport Finance. Could you just tell us what the patterns are in these three stocks and if you have got two or three where the pattern seems sustainable?

The biggest problem we are faced with these conditions which are very rare mind you but they are happening, it is like all the stocks are walking through 5 inches of glue. Once in a while they manage to take a jump but to continue doing that is very difficult but they somehow pre-pone ahead but you do not get these nice sustainable runs which traders look for in normal trending conditions.

I would say these are actually very abnormal conditions. You do not get these follow up moves which you used to in trending markets. It has been going on like this now for a couple of months and as things stand, it looks like it is going to persist for a while.