United Phosphorous may see some selling: Deepak Mohoni, trendwatchindia.com

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about United Phosphorous.

Have you looked at United Phosphorous? Would you look at it as a day trade or even just a position trade or do you think this is something to avoid at the moment?

It has got enough momentum and a reasonable volume to be day or short term trade but looking at a long term perspective since 2008, it has been coming up to 185-190 and reversing. It has done this now five times already and this is the sixth attempt. So it is reasonable to infer that there are a whole lot of people who in the last two years have bought the stock at 185-190 and would be looking to get out to get their money back at least in theory. So there could be some selling over there. If it gets past that, it may be smoother sailing.