Rahul Mohindar of Viratechindia is of the view that one can sell Maruti Suzuki and buy in at lower level or on a breakout of above Rs 890.
Mohindar told CNBC-TV18, "Maruti Suzuki would crack another 10-15%, possibly test its pervious lows as well. So if one is looking at it from a short-term perspective, I think we are trouble here. Possibly move out, buy in at lower level or buy on a breakout of above Rs 890, which is huge resistance. If we don’t get past that level, I don’t see a major come back happening in the counter. So I am a buyer either at lower levels or a buy above Rs 890. But at this rate I think we are just going to be struggling it out."
Disclosure: Analyst doesn't hold the above stock but his clients may hold positions in it.
Source: Moneycontrol.com
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