Tech Mahindra long term trend down: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.in in an interview with ET Now gives his perspective on Tech Mahindra.

Tech Mahindra rising out of a slum but after a long session I am seeing a 5% or 5.5% move on Tech Mahindra, what do you do with this one at 671 what kind of trade would you initiate on this one?

Well I wouldn’t go short in it at now but otherwise it was probably one of the best tech stock to go short in it was always falling. It has fallen continuously for the last 4 or 5 months from Rs.1125 to Rs.600 that’s practically a 50% fall.

So this is I think reprieve finally for the stock whether it’s a bottom its hard to tell. If the market keeps going on like its finishing today then I think the next few days could be good for the stock but at the end of this rally whatever is happening here I would certainly switch out of the stock its long term trend is down.