Hero Motocorp looks good in auto space: Mohindar

Hero Motocorp is looking good in auto space, says Rahul Mohindar, Director, viratechindia.com.

Mohindar told CNBC-TV18, "It’s very hard in the kind of scenario we are in in terms of Maruti Suzuki India courtesy all the news that’s hovering around the stock. I expressed even over the last two weeks that one is very negative on the auto stocks. One pointed out that the only stock which I really like was Hero Motocorp and I even continue to believe these levels 1980-2000 is good support for that stock. So that’s the I would be looking at playing on the upside." He further added, "Maruti Suzuki India and Tata Motors, I still think the next 3-5% is probably on the downside. So an upward rally which you are seeing intraday could be used as an opportunity to sell, but again I don’t think it’s going to be very, very damaging from here. It’s really the next 3-5% that I am looking at." "Bajaj Hindustan looks like the one which will probably give you an outperformance where I look at further 10-15% upside from the current levels. So that’s the stocks within sugar although most of them look interesting but I would cherry pick on this." Disclosure: I personally don’t hold any direct positions in these stocks but could have recommended them.