Stick to individual stocks today: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview to ET NOW said there will be lot of opportunities in individual stocks on both directions.

We may have some kind of gap up opening and let's say stocks like ONGC, Oil perhaps even a Reliance, what would your strategy be because then we have got to start thinking at the gap up price or the gap price rather than the price that we closed at yesterday?

Do not play the Nifty at all today because the intermediate downtrend has not been signalled as over. We are just looking at some rally developing. So you get the gap up opening, you do not know if that gap will sustain, whether it will go down, whether it will continue, global markets are also trying to find ground. This is where you need a passive reactive strategy, not a strategy which tries to predict what will happen. So stick to the individual stocks today. There will be lot of opportunities there on both directions. The Nifty itself could be narrow range, no direction, not delivering much in either direction really. So stay clear of the Nifty today.