'Rs 52 level looks vulnerable for Mercator Lines'

ET Now caught up with Deepak Mohoni, director, trendwatchindia.com, to get his views on Mercator Lines.

Mercator Lines has been moving in a very tight range for the past five months as we have seen between Rs 50 and Rs 60. Do you expect a breakout anytime soon because even right now it is at about Rs 52?

Mercator Lines has broken out from that range downwards or it is just pretty much on the verge of doing that. It is already at roughly the low of today's session and if you look at the last 5-6 days, the level it has been bouncing off from about Rs 52. If the market now continues to fall even a little bit, Rs 52 looks highly vulnerable.