United Phosphorous not looking good: Deepak Mohoni
United Phosphorous is in a fairly severe downtrend, perhaps even a long term downtrend.
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| Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about United Phosphorous.
What is your view on United Phosphorous?
It is not looking very good. We earlier talked about how the Nifty and Sensex bounced off the same levels they have breached about a week or 10 days back. United Phosphorous has gone way below those levels. So United Phosphorous is in a fairly severe downtrend, perhaps even a long term downtrend. So it looks like it may have topped out at about Rs 220 in early October for quite sometime to come. A trend in this stock is not good.
What is your view on United Phosphorous?
It is not looking very good. We earlier talked about how the Nifty and Sensex bounced off the same levels they have breached about a week or 10 days back. United Phosphorous has gone way below those levels. So United Phosphorous is in a fairly severe downtrend, perhaps even a long term downtrend. So it looks like it may have topped out at about Rs 220 in early October for quite sometime to come. A trend in this stock is not good.
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