Mercator Lines is a decent traders stock: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about pharma and shipping stocks.

Have you looked at the charts of Orchid, Mercator Lines?

Orchid is a traders favourite and the pharma stocks now have started doing pretty well. We saw in the last month or so they were underperformers. They underperform, in the sense they were not going up as much as the indices and most other sectors but now pharma is very much in the forefront. You have got Biocons and all making pretty good moves Dr. Reddy’s. If there is a pharma move coming up and it certainly looks like it, Orchid then becomes the one that traders appear to flock to it.

It is very high beta and starts making large moves so I think that is probably what the thinking is behind Orchid but if you look at all the stocks that were mentioned the one I am most comfortable with is Mercator Lines. This has been of to a pretty decent start in the bull market and now closing in into some thing like a three-four month high. Shipping stocks have not been doing poorly either so Mercator also capable of making sharp moves so I think these two could be pretty decent for traders. They are the only two with the derivatives attached to them anyway among that whole list.