Stay clear of construction stocks: Deepak Mohoni

In a chat with ET Now, Deepak Mohoni, director, trendwatchindia, talks about the outlook of IVRCL, IRB Infra and GMR Infra.

How do IVRCL, IRB Infra and GMR Infra look on the charts?

All these stocks have actually been under a bit of pressure. Over the past 3-4 weeks, IVRCL is down 10% and Tata Motors is up close to 15%. Given that the market has figured out which sectors are doing well, which stocks are doing well and the momentum is continuing that way, I would stay clear of construction stocks. Even Nagarjuna is not particularly good and the GMR move is some restructuring story there. It is up today, but overall, we should give this sector a miss for the moment.