Exit Tata Steel, says Ambareesh Baliga

Ambareesh Baliga, Market Expert told CNBC-TV18, "Tata Steel had cracked about nearly 60-65 percent and right now it is more of a bounce back. However, I don’t think the news cycle is yet started, I think that is couple of quarters away; if I am not wrong it could be at least two or three quarters away.""In fact I was recommending buying Tata Steel at those levels of Rs 210-215. However, at the current levels, if you have bought at those levels of Rs 210-215, it is time you booked out to a certain extent because in this run I really don’t see stock going beyond Rs 280-300 levels. However, if you are talking of the next year or year and a half, I will not be surprised if you see levels of Rs 375-400 but not in this move," he added.