Stay clear of Maytas at this point: Deepak Mohoni
Today’s move in Maytas has given it a shot in the arm but it's not sufficient to take up a position now.
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| Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Maytas.
How do you read the charts for Maytas?
The move is totally news driven because before today, the stock was not doing anything at all. It had in fact fallen from around Rs 240 in August-September to 160. It had been trending sideways at lower end of this range. So given that, today’s move has given it a bit of a shot in the arm but perhaps not sufficient to take up a position now.
It is better to go with existing uptrends than some news driven spikes. So best to stay clear of it right now though the move may just start a move in the stock.
How do you read the charts for Maytas?
The move is totally news driven because before today, the stock was not doing anything at all. It had in fact fallen from around Rs 240 in August-September to 160. It had been trending sideways at lower end of this range. So given that, today’s move has given it a bit of a shot in the arm but perhaps not sufficient to take up a position now.
It is better to go with existing uptrends than some news driven spikes. So best to stay clear of it right now though the move may just start a move in the stock.
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