Tuesday 11 November 2008

Keep a stoploss of Rs 225 in Sterlite Industries: Mohoni

Technical Analyst, Deepak Mohoni is of the view that one can keep Rs 225 stoploss in Sterlite Industries.

Mohoni told CNBC-TV18, "Metal sector is going to be vulnerable, if the market falls into a decline and if that happens, if the indices go below 9,600 or 2,850 and if that were to happen then stocks like Sterlite and all the metal pack become very risky. One can keep a stoploss about Rs 225 for Sterlite or to switch out right away into something safer like banking. I would actually prefer to switch out to banking because there is already been a pretty good run up in metals before this decline began."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

Posted by Harsh at 07:33

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