Sangam India looks interesting from a medium term perspective: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about Sangam India.

What is the call on Sangam India?

It is an interesting chart because the stock bottomed out in December whereas the market bottomed out in February. So there has been clearly a good deal of buying in that stock since then. It has gone up about 60%, it went up to 55. Now it is correcting rather a lot, it has come down to about 45. So the last 4-5 months in the stock look very interesting.

If you look at the overall trend in this stock, it fell very sharply like so many stocks did actually during the post 2007 declines and came down from over Rs 100 to below Rs 10. So this does mean that when things go bad, the stock is a little vulnerable on the downside but medium term could be quite interesting in this stock because of the early start of this bull market.