There is not much of play in smaller infra stocks: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in a chat with ET Now talks about smaller infrastructure stocks.

Smaller infrastructure stocks, possibly Nagarjuna Constructions, Hindustan Constructions, Madhucon Projects and MSK Projects, would you look at any of these counters to buy into at this point?

Not particularly. Nagarjuna Construction is usually one of the better performers when it is going up or the whole sector is going up. This has got itself into a very broad range now for several months, 140 on the downside, 180 and a bit on the upside, that is a Rs. 40 range. It is not really coming out of this range either way. So the long term trend in this stock is sideways.

Unusual to find long term trends running sideways but a lot of stocks are doing that and so is Nagarjuna. So there are only two things you can do here. One is if it declines down to the lower end of the range 140-150, you take a bet a little again, get support there and rise back to 180 or thereabouts and get again for two-three months but otherwise there is really not much of a play here in these stocks and much with the market as well because there is a lot of sideways movements now.