Exit steel stocks on bounce: Sandeep Shenoy

Sandeep Shenoy of Anand Rathi Financial Services told CNBC-TV18, "Tata Steel definitely is much better poised vis-à-vis the other players here in India but its overseas arm is again an enigma by itself. So we have seen a strong rally happening in Tata Steel and Sesa Sterlite."

" However, we have a firm opinion that this is not going to last for at least another quarter or so because we are not out of woods. So this is one sector where I would recommend that use all the bounces up to exit or lighten your position," he added.