Maruti Suzuki not attractive: CK Narayan

In an interview with ET Now, CK Narayan, President Treasury, Sharyans Resources, talks about Maruti Suzuki.

From the automotive pack Maruti Suzuki looks like the one that is not taking it to the chin not loosing too much but still a negative bias there vis-à-vis the likes of a Tata Motors or the two-wheeler space would you prefer a Maruti Suzuki?

No, not at all in fact it is the other way around. Stocks like Tata Motors have shown considerably much higher levels of strength. If you look at it from a technical side even today if you see let say intraday trades you actually find that Tata Motors is one of the stocks which was making new highs for the day whereas you have Maruti going sliding down to meet its support. You have some short term supports at 1325 which if it were to get broken I think Maruti would be in further trouble. So I most certainly would not try to venture in with buying Maruti right now and it is not something to do any kind of value picking. I think sellers have been to the fore into the share and they continue to be fairly interested in selling the stock not buying it.