Viratechindia’s Rahul Mohindar has suggested investors to invest in four wheeler auto stocks for long-term.

It was a feeble day for the stock markets followed by instability and indecision due to sub prime mortgage concerns.

Sensex lost 207.83 points at 15100.15, while the Nifty ended 58.90 points down at 4403.20.

Rahul Mohindar of Viratechindia.com is optimistic on IDBI

The Industrial Development Bank of India Limited (IDBI) is one of India's top public sector banks. It was founded in 1964 by an Act of Parliament as a wholly owned subsidiary of the RBI to offer credit and other facilities for the growth of the fledgling Indian business.

Rahul Mohindar of Viratechindia said that there is a possible downside in SBI’s stock value.

He said that the stock will experience other downside of Rs 100-150 with a short-term to medium-term viewpoint.

Mr. Mohindar stated, “In SBI, there is a visible short opportunity clearly because the stock looks much overstretched, it has reacted from more than Rs 1700 levels on its way down. So, I think technically we would have achieved almost all targets on both shorter-term and longer-term counts.”

He doesn’t believe that the SBI stock can do much on the positive aspect.

Rahul Mohindar of Viratechindia is of the view that DLF can move upto Rs 620-630.

Sharmila Joshi of Asit C Mehta said that it’s the profitable time to hold Prism Cement.

Technical Analyst, Ashwani Gujral is of the vision that Ambuja Cement has target of Rs 155.

Gujral said, “Ambuja Cement at this point probably looks a little better although large cap cement is not showing the kind of moves that mid cap cement is showing. For Ambuja Cement Rs 130 seems to be a good support, and Rs 155 can be a good target. But large caps don’t seem like they are going to make new highs, they seem to get stuck and some bad news tends to come whenever they retest their previous highs.”