TVS Motors looks attractive at current levels: Shardul Kulkarni

ET Now caught up with Shardul Kulkarni, Sr. Technical Analyst, Angel Broking, to find out his views on auto sector.

ET Now: If we could look at the auto sector we are seeing that those sales numbers, those auto numbers did come and sales increasing on the year on year basis by 78%. Even the two-wheeler space is doing very well. Are you bullish on the auto space?

Shardul Kulkarni: Looking at this particular auto space we feel that the two-wheeler space is far more attractive than the four-wheeler space or commercial vehicle space so in the two-wheeler space we are recommending longs in TVS Motors, so TVS Motors is one stock that one can buy at current levels.

We expect a target price of around 94-95 in TVS Motors there was a news item which related to the stock earlier that they have launched a new bike but on the technical charts the stock is very strong in a strong higher top higher bottom cycle so we feel that yes 94-95 is a good target for TVS Motors traders can buy the stock with a stop loss of approximately around 74-74.