Hold MRF, says Manav Chopra

Manav Chopra of Networth Stock Broking told CNBC-TV18, "MRF looks good, even at these levels I don’t see much of a downside in the stock. The maximum downside that we see looking at the overall market condition possibly could be of Rs 33,000 but one should definitely hold into the stock. The overall formation of this stock for a longer term timeframe continues to be very positive at the current level."

"The momentum indicators and the structure of the stock clearly suggest that it is still currently in a primarily uptrend and the recent decline was corrective in nature. So my suggestion would definitely be hold," he said.

At 11:43 hrs MRF was quoting at Rs 34,611, down Rs 169.55, or 0.49 percent. It has touched an intraday high of Rs 35,000 and an intraday low of Rs 34,305.60.

Disclosure: Analyst does have any positions in the stock.