Not too bullish on Hindalco: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about Hindalco stock.

Do you think Hindalco is going to hold around 180-170 levels till the close of settlement or looks unlikely? How do you see this stock?

If you look at Hindalco, they are way below the peaks that they had reached in March-April. For example if you take the Sensex, it is only 500 points below that 18000 odd marks it had reached couple of months back but look at Hindalco, it is at Rs 150 when it had been Rs 190 at that time. So it needs something like 25-30% more to get there.

So these are clearly struggling, they are not showing signs of catching up with the last peaks. So would not be too bullish on Hindalco even medium term, never mind long term. So whether it holds these levels, will depend on the market of course but this is not a stock you want to be long in or to have too much exposure in.