Siddharth Bhamre optimistic on Tata Steel

Siddharth Bhamre of Angel Broking told CNBC-TV18, "We are optimistic in Tata Steel. We are expecting further short covering though there are not many shorts over there, we have seen that Chinese markets are doing well, so there would be some sentimental change in metals space. So, though we like Hindalco Industries also at current level, Tata Steel at current level or some dip and you will see that good accumulation of long position would begin. So, that is one stock on the long side."

"Maruti Suzuki did not come up with good set of numbers. It is a very over-owned stock, lot of long positions. I will not be surprised if some of the aggressive traders go short in this counter from near-term. So, that is one stock which I would trade with negative as for the coming week," he added.