Buy Tata Steel on dips: Mohindar

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Buy Tata Steel on dips, says Rahul Mohindar of Viratechindia.

Mohindar told CNBC-TV18, " Tata Motors still looks a little vulnerable in the short-term maybe would be heading down first, Rs 20-30 kind of move. So we were talking about 5-7 correction first before we see the next upmove. But I think it's quite priced in, it doesn't look very visible."

He further added, "Tata Steel certainly looks much better on long-term charts and I would think lets look at the worst downside at Rs 510-520 that's a big pocket of support. So if we even dip down and the market languishing and the stock moves down, it's a good opportunity to buy. I think medium to long-term; I wouldn't be surprise seeing Tata Steel at about Rs 630 to Rs 640."

Disclosure: I have not personal holding in the above stock.