Not bullish on Reliance and ONGC: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview to ET NOW said there may not be that much of an opportunity in Reliance and ONGC stocks.

What are the expectations on opening bell for Reliance and an ONGC? What are the levels that you would be watching out for?

These two are pretty sluggish stocks. Even when there is good news or bad news, they do not move very much especially ONGC. So I would not expect too much out of them and there is a fairly good chance that whatever they are going to gain today if they gain today will be at the opening bell. So we may get that gap up in there, nothing after that. So as far as trading is concerned, there may not be that much of an opportunity in these two stocks. If you had them overnight, they would work out nicely but if you are buying them at the open, may not work out.