Technical Analyst, Sudarshan Sukhani of s2analytics.com feels that one can buy Amtek Auto.
Sukhani told CNBC-TV18, “IVRCL went up yesterday, but that is not a good reason to buy it. If somebody wants to take a position here, they have to go long in it. I would not buy infrastructure stocks in general.
He further added, “Amtek Auto after a big bear market rallied yesterday. That rally was good enough to justify a short-term buying position. But for all we know these cash stocks sometimes turnaround in a V-shaped rally, so it is worthwhile taking a trade on the long side. You have to buy the equity and then if it doesn’t work out there is always a stop loss but it could work out. The risk is worth taking.”