MTNL could be bought after a dip; Aptech in bullish mode: Deepak Mohoni

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

What do you think about MTNL and Aptech?

MTNL is very interesting because just about two weeks ago, the stock had fallen to its all time low. It had gone even below its issue price, at least the listing price but the volumes had been picking up even during the last phase of the decline and now we had this certain move here. So it looks like some bit of smart money was getting in even during the fall and this move seems to be independent of the telecom rally which we saw about a couple of weeks back.

Independent because this is making a move at a different time than the other stocks. So something special happening here I would assume. The stock right now is very much moving up and could perhaps be bought after a dip. That would be a slightly speculative purchase because the stock has really only started moving up from really really low levels. There are four or five stocks which are looking interesting because they look like they were in a complete bear market and behaved that way for well over a year but are showing some signs of bottom formation.

I would not trust bottom formations very much when the bull market is two years late. So these are still slightly iffy and Aptech is one of them. It had come down to 100, now it has got rising tops and bottoms as the intermediate trend goes. That is a little interesting here. Short term, you could be bullish on these.