Sudarshan Sukhani of s2analytics.com shares his view on Mahindra and Mahindra (M&M).
Sukhani told CNBC-TV18, "We have already discussed Tata Motors repeatedly. There is buying there but there is also the sense that perhaps at some point the trend there will be exhausted. A far better option is Mahindra and Mahindra. M&M hasn't really participated in the auto rally, but that doesn't mean much. It's building a base that's lasted for three months now. Whenever it comes out of it, it's going to probably do much better than the other auto stocks."
He further added, "There are two ways to trade it. The first way is that it's giving impressions of an eminent breakout. It doesn't have to happen today. M&M has come in my buy list earlier also. It's doing the right things but not actually moved up. But the charts tell us it will move up, so the ideal way is you take these day trades, if it doesn't work out again enter tomorrow or take a position in M&M and wait patiently and it should work out very well."
