Sesa Goa not a compelling buy for long term: Deepak Mohoni, trendwatchindia.com

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Sesa Goa.

How is Sesa Goa looking technically?

Once it starts going up, it could be a buy once again. The metal pack as a whole has not been doing well at all during this uptrend, but Sesa Goa took off around the end of May and has had one or two dips like today’s, but has always managed to bounce back. So Sesa Goa is on a bit of a roll right now. Today is a bad day for it, but once it falls, it should provide another opportunity to buy it short to medium term.

Long term, it has slowed down certainly. Though the longer-term trend is probably just about up, it is not a compelling buy in the long term but for the next week or two. However, so long this market uptrend lasts, we should see better levels in Sesa Goa than we are today.