Investors can buy Tata Steel at around Rs 400-405 levels, says Amit Trivedi, Director, FinStream Financial Advisors.
Trivedi told CNBC-TV18, "Right now most of metals have moved up, they have rallied. Tata Steel has moved from around Rs 360-370 levels a month back to around Rs 430-440 levels right now. So we think the stock should consolidate at these levels. So we would not like to buy stocks at this point of time but we feel this could be an interesting trade for entire 2013. We feel investors can buy Tata Steel at around Rs 400-405 levels because as China is stabilizing, Europe is stabilizing and US post March would stabilize you may see decent run up in these stocks."
He further added, "If we look at the earnings per share for Cipla over the last seven-eight quarters there has been a steady stable growth in the earnings per share of the company. We think this should continue with the new CEO who has joined in things should improve further. So we like that particular security. We feel Cipla can be bought at around Rs 415-420 levels. It is slightly higher right now around Rs 435 levels. From a one year perspective we feel it can go to around Rs 500 levels."