Ambareesh Baliga, Independent Market Expert told CNBC-TV18, "In Amtek Auto it is more of a dead cat bounce. We have seen that happening in Bhushan Steel. When Bhushan Steel had fallen to those levels Rs 55-60 from there we saw nearly a 40-50 percent set of a move and that is exactly what we are seeing in Amtek Auto. Overall longer term it is clearly on the way down.""If you are talking of Mahanagar Telephone Nigam (MTNL) again I just heard that the ministry was talking about to make it profitable. I don't know whether it is possible in our lifetime. So, whenever there is a positive news on MTNL utilise that to exit. In this rally it can possibly go to levels of Rs 25-26. Whatever levels you get it is clearly an opportunity to possibly exit," he added."Jet Airways, yes it can slightly more further because of the sort of valuation gap between that and Interglobe Aviation, but then if you are talking of airline space overall it is very expensive. Although I have missed out on this rally but I will not get in at this point of time," he said.
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