Time to think defensive on Raymond: Deepak Mohoni

ET Now talks to Deepak Mohoni, Director, trendwatchindia.com.

Give us a sense of what's happening with these pseudo real estate cum textile stocks because Raymond came out with the numbers on Tuesday. But Raymond, Century textile or for that matter the other one as well what do you do with these stocks?

They would behave quite a bit like the real estate stocks. Now Century had a pretty good run up, Raymond had a pretty good run up but they have probably already started correcting a little bit. If you look at Raymond it peaked in January then try to come back its not got there so I would say that if the bull market survives this decline and there is another good rally then Raymond would do well along with the market but if this is going to be a severe correction which we don't know yet how it will be but if it is a severe correction then these stocks will get hit adversely. So from the mindset of an investor you don't want to take a risk in these stocks now because of the possibility that the correction could be large. Its time to think defensive and these are not defensive.