Too soon to get into Essar Shipping: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Essar Shipping.

What is your take on Essar Shipping?

Essar Shipping has just come off today from its lows. It did not even have a particularly good day on Tuesday when everything else shot up. So this is pretty much news driven and given that this stock was in the doldrums for the last six or seven months - it is the very first move - this would be a little too soon to get in.

You would want to see a higher bottom or some form of consolidation, some kind of assurance that it is not going below the low it just made on Tuesday, so that’s the lookout over there.