Realty looks risky says Mohini

Technical Analyst, Deepak Mohoni is of the view that real estate and other which are making new lows looks risky. He advices to invest in sector which are not making new lows like banking.

Mohoni told CNBC-TV18, "Reliance Communication will require a market upturn because Reliance Comm has become one of the stocks that has made a new low for the year. It was looking fairly okay a couple weeks back. It was in a decent uptrend but it has given back all those gains. Reliance Communication also closing at below its March and more recent lows. Today one has to look at which stocks have made fresh lows and which stocks have not."

He further added, "The better stocks to invest in would be those, which have not made the new lows. The ones, which are making new lows like real estate, those are obviously very risky. Interestingly banks have not made new lows in this decline."

Disclosure: It is safe to assume that analyst & his clients may have an investment interest in the stocks/sectors discussed.