Reliance Capital has taken quite a beating: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Reliance Capital and the ADAG stocks.

Have you looked at the charts of ADAG pack and Reliance Capital in particular?

The pack was doing quite poorly for the last 2-3 months. If you take Reliance Cap, it was Rs 850 in October-November and came down to less than half that price. So that is quite a beating. But the last 2 days have been pretty good for all the stocks that were severely beaten down, they are making the strongest come back and this ADAG pack is no exception.

If an intermediate uptrend is confirmed, the initial rally could very well be led by the ones that lost the ones that lost the most ground during the decline. So in that sense, you could very well find these stocks doing quite well over the next week or 2.