Positive on Tata Steel, SAIL: Deepak Mohoni

ET Now spoke to Deepak Mohoni, Director, trendwatchindia.com, on his view on Ispat Industries, SAIL and Tata Steel.

On the charts Ispat Industries and SAIL both of them on the last 3 days have been on a bit of rip and roar can they continue further?

Well Ispat certainly is because it was down to some thing like a 6 month low now it is straight up at 3 month high and barely 2 weeks so something clearly going on in the stock this is an usual move for Ispat or for any other stock which is quite heavily traded so potentially I guess could go up further this is really in an unpredictable territory as to how high it can go but these takeover stories are probably there must be some basis to it.

Fair amount of stock also changing and SAIL has picked up strength also recently. It has been one of the better performers of this rally the last one week rally. It in fact looks like a buy for the duration of this uptrend could be good 2-3 weeks going ahead. Long term perhaps not that strong but there is very much a metals rally on and Tata Steel and SAIL are among the leading stocks of this rally.