PSU stocks will now become trading moves: Anil Manghnani

ET Now caught up with Anil Manghnani, eqwise.in, Director, Modern Shares and Stockbrokers Limited to get his views on the PSU basket.

Do you like anything in the entire PSU basket, like Hindustan Copper or NDMC?

After correcting quite sharply, they are in the midst of a trading bounce but having already done at least 10% yesterday and maybe another couple of per cent today, they are probably now trading at the upper end of the band. The interesting thing is every time the market gives you some sort of a trading bounce, there would always be the excitement that the disinvestment is back on track and every time there is a collapse, people feel that the government will not want to sell at these prices, so disinvestment may be put on a backburner.

It is probably in line with the Nifty. Every time the Nifty moves, you will get the trading bounces but for the shortest term trader since it is already bounced let’s say about 10-12% from yesterday’s lows, probably now you would look to exit and then again wait for a dip, an opportunity to buy.

They will now become trading moves till some clarity comes out on the further disinvestment process but the major moves that happened last month is probably now where the top is made for at least for the short term in most of these PSU stocks.