Exit United Spirits, says Baliga

Ambareesh Baliga, Market Analyst advice traders to exit from United Spirits at current levels.

Baliga told CNBC-TV18, “The way I see it is that the Diageo deal would be happening to save Kingfisher Airlines, but the way things are right now with Kingfisher and in case it is forced to close down the question is whether he would sell out United Spirits in desperation. So if that does not happen the whole rally which we have seen in the recent past goes for a toss. So from that point of view right now if I have United Spirits, maybe I will exit.”
He further added, “It is already showing on the DLF’s stock regarding the corporate governance. I don’t think it will have too much of an impact on the market overall, but I think DLF as a stock will suffer the most and the way things are I see it again going back to those levels from where it started about Rs 190-192 levels."