Auto ancillaries very strong on long-term charts: Devangvisaria.com

Devang Visaria, Chief Strategist, Devangvisaria.com in an interview to ET Now said Auto ancillaries as a pack is looking very strong on the long term charts. In fact you could say that this pack is going for the long term uptrend of possibly two-three years levels. You would have to be very choosy on your stock picking skills.

ET Now: Your overall view on auto ancillaries and steel and in these specific stocks, what action is there?

Auto ancillaries as a pack is looking very strong on the long term charts. In fact you could say that this pack is going for the long term uptrend of possibly two-three years levels. The problem is that there are so many stocks in this sector and sometimes the volumes tend to drive very fast in a bad market. So you would have to be very choosy on your stock picking skills. As for Gabriel, it is a good chart. It has given good breakout and above 50, it enters into a very strong uptrend. Possibly look for targets of 75 to 80 over the next 2.5 to 3 months for Gabriel.

ET Now: TVS Motors, where do you see this stock going at the moment?

TVS Motors has been our preferred pick in auto cap because of the fact that it has been underperforming for the past few months and now it is starting to pick up steam. We look for a target of around 110-115 on four to five-week perspective. In the immediate short term possibly 94-95 should be a good target.