Jun 06, 2012, 05.37 PM | Source: CNBC-TV18

Tata Motors may slip further, says Sukhani

Tata Motors may slip further, says Sudarshan Sukhani, s2analytics.com.

Tata Motors may slip further, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “Yesterday Tata Motors made new lows so today it has gone up mainly on the back of what I perceive as short covering. This has to stop, this will build a base and then Tata Motors becomes a buy. In the morning, we went on suggesting Hero Motocorp, which was a far better option and it has done much better in the sense that it is more stable. Tata Motors can come down tomorrow but Hero is not likely to do so.”

He further added, “I would expect tomorrow market to be a little more subdued and choppy. So whatever gains are likely to come in will be at the open which means that anybody still carrying Nifty positions would be well advised to exit then and avoid index trading for the day. It is better to focus on individual stocks. PSU banks as well as the private sector banks, both of them will be the focus tomorrow, IndusInd Bank , Canara Bank and probably Bank of Baroda .”

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