Sudarshan Sukhani of s2analytics.com recommends selling Tata Motors. "Mahindra & Mahindra will become a short if the Nifty decides to go below 8,500," he adds.
Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Tata Motors is a short call, the rally was a bear market rally. Oil and Natural Gas Corporation (ONGC) has already been beaten down. We had a big up day, you don’t know whether this is the beginning of a small base building exercise. Mahindra & Mahindra (M&M) will become a short if the Nifty decides to go below 8,500 but even before that Tata Motors could be easily sold into."
On Monday, Tata Motors closed at Rs 385.85, down Rs 6.70, or 1.71 percent. It has touched an intraday high of Rs 395.60 and an intraday low of Rs 382.20.
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First Published on Aug 10, 2015 04:05 pm