Buy auto stocks on decline: Gujral

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Buy auto stocks on decline: Gujral

buy auto stocks on decline. Mahindra and Mahindra can touch Rs 1200 and Maruti Suzuki can go upto Rs 1740, says Technical Analyst, Ashwani Gujral.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Mah and Mah See messages about Mah and Mah Mah and Mah BSE | NSE 10/02/12 Are Mutual Funds betting on Mah and Mah?

Technical Analyst, Ashwani Gujral is of the view that one can buy auto stocks on decline. Mahindra and Mahindra can touch Rs 1200 and Maruti Suzuki can go upto Rs 1740.

Gujral told CNBC-TV18, "I think Mahindra and Mahindra seems to be the strongest. We could see levels of about Rs 1,200 on Mahindra. Tata Motors look very good about Rs 625, we could see levels of Rs 695. Maruti Suzuki and Hero Honda are now both picking up momentum. Maruti could head upto easily levels of Rs 1,740 which was the previous high and even Hero Honda can get into new high."

He further added, "So overall, autos on all declines becomes a good bet. Autos, tech, FMCG, pharma and banks -- these five spaces on all declines are likely to face buying. So these are the spaces you be in. You need to still avoid infra, realty and capital goods."