Avoid ADAG stocks, says Manghnani

Avoid ADAG stocks, says Anil Manghnani of Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "I think the ADAG pack is a difficult one. Its oversold, so temporary bounces but the way they get hammered every time the market falls is little worrying, so probably an avoid from me."

He further added, "I think there are much better options out there, if you are looking for strength even in weaker stock maybe look at an IDFC, the stock hit Rs 110 a couple of times, the market touched 5,200 but this time when we have gone to sub-5,000 its gone nowhere near Rs 110 so maybe forming a base and Rs 110 is a key support. So it maybe bounces back to 134."