Positive on Selan: Deepak Mohoni

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

How do the charts look on some of these oil exploration companies, HOEC got battered and bruised before probably showing a semblance of a fight back, Selan is at 400 there are couple of other smaller ones as well it is not a very large pocket but have you looked at the charts of any of these?

Well Selan is still pretty close to its all time high that is roughly 430 or thereabouts so it has not been affected very much by this decline but it is largely going sideways so once it breaks out at 430 or to say past 450 then that is a very clear uptrend and that is an all time high.