Sell Tata Motors, says Mohindar

Mohindar told CNBC-TV18, "If I break it up into sectors where I see some spirit coming back is probably the banks. So some of the major heavyweights be it an SBI or an ICICI Bank  amongst the banking lot. I think the corrections that you are seeing could actually be nibbled into from a 2-3 month point of view. So if you are looking at this market from a short term investment angle. So I feel they make fairly good bets at these levels with downsides capped at probably 3-5% from here."

He further added, "If we look at some of the cement stocks be it an Ambuja which has done well today or an ACC I think they have corrected over the last 1-2 weeks. Probably still makes an opportunity to get in once again. I get the feeling that probably going to get a rebound or a good momentum spree there. But again on the negative side if we look at it autos continue to be on my sell list. So I’ll sell Tata Motors and if it breaks Rs 230 I’d set out a target of Rs 205-210 on the stock. So autos would really be my weakest pack within the Nifty."