SENSEX NIFTY
Dec 28, 2012, 04.58 PM IST | Source: CNBC-TV18

Buy Maruti Suzuki on correction: Madan

Ashu Madan, Religare Securities is of the view that one can buy Maruti Suzuki on sharp correction.

Ashu Madan, Religare Securities is of the view that one can buy Maruti Suzuki on sharp correction.

Madan told CNBC-TV18, “I think the trend of Maruti Suzuki is up though the financial performance is that the environment is little challenging, the effect of the margin pressure is there but I still feel that the trend for Maruti is up. Any dip maybe in the current phase it has to give us a breakout, it is consolidating at this level. "

He further added, "I would say the ideal opportunity would be in the next probably 20-30 days whether it is because of fiscal cliff or because of any other reason, if there is a knee-jerk reaction to the market and we get it at a lower price probably that is the time to enter the market for a probably three months trade and you might get an opportunity to get out."

"It is in a consolidation, it has to give us a breakout signal which it is not giving but the overall trend is up. I think the better price if you want to be in a safe orbit then some sharp or good correction because Maruti is one of the leading stock, it would be best and appropriate time to enter," he added.

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