Look at Eicher Motors, Page Industries, Bosch: Narayan

CK Narayan, Growth Avenues told CNBC-TV18, “Stocks like Eicher Motors, Page Industries, Bosch have similar movements. We have to take every reaction as being a micro trend or a kind of contra trend reaction. So all we need to do is wait for this contra trend reaction to complete and when it stages a reversal, which you can track on the charts by way of using something as simple and arcane as a trend line or even a small time moving average, as soon as it gets back into its trend it becomes a buy again."

"So it's just the fear of hikes which keeps people away from such stocks but the only way to play them is to look at the long-term trends which are resolutely up and understand that any contra trend is only a correction which is giving people an entry into the stock. All you need to do is track the end of the contra trend which can be done with simple tools and as soon as that signal is up and running on the charts, it's time to get back in. So I would use the same approach for Eicher at whatever point of time," he added.