Jitendra Panda's view on auto stocks

Panda told CNBC-TV18, "Some short build up and profit booking is happening in Mahindra & Mahindra, Maruti and Tata Motors. But in Ashok Leyland there was addition of 7-8 lakh shares in open interest in the June series on the positive side and that’s the outlay we have on the auto sector.

He further added, “At this juncture if you would like to take short in auto sector then you should go for Tata Motors, but then you will have to keep your stop loss very strict because markets can take any direction based on the rate cut which is going to come ahead.”