Tata Motors has strong support around Rs 190: Sukhani

Sukhani told CNBC-TV18, “Tata Motors has strong support at approximately Rs 190, it’s anybody’s guess whether it will reach there and if it does reach then whether if it will stop. My earlier suggestion was that we need to wait for the stock to bottom out. May be Rs 230 is a good price, may be Rs 210 is a good price but the market has to decide that.”

He further added, “I was looking at IRB Infrastructure and here is a stock that broke out yesterday, retreated today because the broad market also came back but IRB Infra is a buying opportunity if tomorrow the markets remain cheerful, that’s a big if. Don’t just randomly go and buy it but it is something that we will be watching.”

“For cement, there is more upside here on days like today when we are seeing a mild correction or probably good days when some trading positions can be taken on the long side. I don’t have a view on Infosys at this point because Infosys will do what the Nifty or the broad market is going to do. So its far better currently to focus on the Nifty and say okay if the Nifty maintains itself above 5000 then we are buying and if we are buying then Infosys is the best among the top four IT majors but this is not the time to go long in it.”