Wait for some moves in Thangamayil Jewellery: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about jewellery stocks.

One word on the jewellery companies. We have seen an odd Gitanjali fairly active that aside not too many other companies have been active, have you looked at the charts here?

Well they are going up with the market. Gitanjali was in fact one of the early risers of this bull market. A fair amount of momentum, reasonably promising move. Thangamayil Jewellery, is also quite interesting. In the last four days there has been enormous spurt in volume in the stock.

It has otherwise been sideways for nearly seven or eight months and this move of the last four days on high volume has brought it to the higher end of the sideways range. So potential breakout here and that would take it to an all time high since its listing so this could be a stock of some interest but I think we still have to wait for the story to unfold.