Sell Mahindra and Mahindra, says Anil Manghnani, Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, "On Friday, I put out a sell call on Tata Motors and on Maruti because I think they have reached a major levels, so I think as a pack yet, they have rallied. Maybe Bajaj Auto ? it did show a lot of strength even on Friday. So I think probably that might put on some more, it did take out a key level on Friday at about Rs 1,370 and closed above that, so maybe that has some more maybe Rs 1,450 is possible. But most of them have rallied 15-
20%."
He further added, "I would even probably go out and stick my neck out and say sell Mahindra & Mahindra (M&M) at this point because even that has rallied from sub-600 closer to Rs 700 so that around Rs 690-695 has a sell."
"The top three that have been doing reasonably well, which is Tata Motors and M&M, Maruti has been weak but even that has rallied, those three would be come sells right now. I think only Bajaj Auto probably has some more. In the weaker ones, Ashok Leyland is very weak but it has bounced, maybe it can rally to about Rs 56-57 but around those levels again it becomes a sell."
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