Mastek looks weak: Devang Visaria

Devang Visaria, Chief Strategist, Devangvisaria.com, in a chat with ET Now talks about JP Power and IDFC and Mastek.

What is your view on JP Power and IDFC and Mastek?

If the move in JP Power gets sustained, you could possibly see it heading to around 76 or 77 on the upside. But there you have the 200-day moving average for the stock. So that’s going to be a big cap for this stock. Mastek looks weak, a strong decline today, possibly another 15% odd decline on the cards. We were positive on Rolta a couple of days back but today’s price actually it is closing below 190, which would suggest that there is a further weakness in store for the stock and long position should be taken an exit and possibly you could look for declines around 170 or so levels for Rolta.