Stocks closing at their Bull mkt highs, best to invest: Trendwatchindia.com

ET Now spoke with Deepak Mohoni, Director, trendwatchindia.com for getting his views on textile stocks. He said Century had has taken quite a bit of a beating in last few sessions. Right now, the best stocks really to have in a portfolio are those which are closed to their bull market highs that means a 52-week high for example.

Some bullish patterns are visible on the technical front in Century Textiles, also Raymond stands high on priority. What is your view on those two?

Those two are also considerably in the really state sort of space but Raymond's has been actually doing lot better than many of the others for a while over the last three-four months but Century had has taken quite a bit of a beating in the last few sessions if you see the stock it has come down from 600 to 450 that's a 25% drop that's quite a sharp drop, last one or two week its revive but right now the best stocks really to have in a portfolio are those which are closed to their bull market highs that means a 52-week high for example.

The ones which are now struggling to get back there those are may be at best short term trading ideas and essentially would fall rather in that category.