Keep Rs 377.5-378 stoploss in IVRCL Infra: Mohoni
Technical Analyst, Deepak Mohoni is of the view that one can keep Rs 377.5-378 stoploss in IVRCL Infrastructure and Projects.
Mohoni told CNBC-TV18, “The stocks that had fallen quite a lot, making their first move that’s a slightly difficult place to enter. It’s after the next decline and next rally that gives you a better point to get in and also GMR Infra is 13% up, so even if it has a bit of dip during the day that dip could be sharp given the level of volatility.”
He further added, “I will pick IVRCL Infrastructure and Projects simply because it remain quite strong during the last two weeks when the market corrected and its already gone to a bull market high today. So given that a lot of momentum in this stock is safer one and you could place a stoploss somewhere around Rs 377.5-378 or so – that’s the low of the last one-two hours; it seems to be starting to pickup slowly from here again.”