Hold Sesa Sterlite, says Nooresh Merani

Nooresh Merani of AMSEC told CNBC-TV18, "Every steel stock has seen downside over the last five years and in the short-term we see very good volume built-up right from Sesa Sterlite to Hindalco Industries or Tata Steel. Sesa Sterlite saw a huge move over the last three-four months going all the way to Rs 205-210 and recently came down to somewhere closer to Rs 170-175 which has been a base level for the last three-four months."

"From significant support levels the stock has started recovering. We could be looking back towards Rs 210 and even Rs 215 in the medium term. So from current levels the investor should hold on. Be patient and look towards Rs 215 in the medium to longer term."