Tuesday 7 October 2008

Exit Suzlon Energy, says Mohoni

Technical Analyst, Deepak Mohoni is of the view that one should exit Suzlon Energy.

Mohoni told CNBC-TV18, "Suzlon Energy is a stock in a severe downtrend; it’s not just a bear market effect it goes beyond that. The stock has lost 75% since January and if you look at the first two-months of the bear market it lost 50% then only before all the bad news and all the rights issue and all came in. For whatever reason the market has not been like this stock very much for the last 8-9 months and that’s a pretty good reason to stay out of the stock. I would switch out of the stock into some of the sectors, which looks safer right now like banks, pharma or if you take the petroleum stocks are fairly good. Those are better bets, safer right now."

Source: MoneyControl

Posted by Harsh at 01:35

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