Expect Sona Koyo Steering to hit Rs 80: Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "Sona Koyo Steering Systems had a good rise up till Rs 65 a few months back. Post that, it has consolidated in a downward channel for the last few months. In the last three or four days we have seen that channel breakout with very strong volumes. We expect the breakout to continue into all time highs."

"We would be looking towards a target price of Rs 80 in the short to medium-term. So, that is a trade which we are looking at with good volumes and we are seeing more action on the midcap side rather than on the largecap side," he said.