Not much value in small cap auto: Ambareesh Baliga, Karvy

ET Now spoke to Ambareesh Baliga, VP, Karvy Stock Broking Ltd., on his views on smaller auto counters.

Some of the smaller auto counters like Kinetic Motors, if you happen to track it, any of the small cap stocks that you particularly feel have value right now?

In fact most of these stocks we really do not see too much of value because the way the markets have actually moved up it has already taken care of whatever value is there in most of these stocks.

So basically from a trading angle, as I have been saying possibly for couple of days 2-3 days, once you see that momentum building up in a particular stock just pick it up make your 5%-8% and exit. Surely you cannot look at these stocks from a fundamental angle by the time you look at it fundamentally the stock has already moved up.