Dec 12, 2008, 12.47 PM | Source: CNBC-TV18
Technical Analyst, Sudarshan Sukhani suggests not to buy auto stocks.
Sukhani told CNBC-TV18, " M&M , Tata Motors were looking bad earlier also and the rally was primarily just an excuse for I suppose for some smart money people to get out of them. I donít think auto is an industry or a sector that is doing well, it is not even an outperformer. So, I donít suggest anyone buying into it. Anyone trading in it on the long side, construction, cement and PSU banks are the favourite sectors."
Disclosure: Analyst has delta neutral positions in the Nifty and investments in shares.