Ambareesh Baliga, Market Analyst advice traders to exit from Infosys at current levels and buy Tata Motors around Rs 210- 215 levels.
Baliga told CNBC-TV18, “We should remember the ground realities that the sector is going through and especially Infosys. So, I suppose those who couldn’t sell post the results, this is an opportunity for them to exit the stock at the current levels because I don’t see too much of an upside from here. The next quarter results would be a dampener, so before that comes it is time to exit.”
He further added, “Tata Motors, the way I see the auto sales both international for Jaguar as well as the local sales to actually taper off if you are talking of the next atleast four to six months. So, I suppose post October November you surely get an opportunity maybe closer to about Rs 210-215 levels.”
“At these levels I would be cautious on IT space. There is one stock which we still like is Thinksoft. Being in the niche segment we expect it to go up to levels of say about Rs 125-130. It has in fact moved up from Rs 45-50 levels to currently it is about Rs 90. Then I think Rs 125-130 is possible in the next 2-3 months.”
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