TS Harihar of Karvy Stock Broking is of the view that one can hold Tata Steel for long term. This stock will give better prices compared to these levels.

Harihar told CNBC-TV18, "From a very short-term perspective we are negative in the market as a whole, which means if the Nifty comes down another 100 points I do not think Tata Steel is going to be this bad. So if the investor is a very short-term trader then I would suggest to take profits and walk out. If one has the perspective anywhere between three and six months I would suggest a hold on Tata Steel for two reasons. One is that the long standing dispute between the government and the steel industry has been put to rest because the steel industry seems to have met the government half way. Secondly, as far as steel consolidation is concerned this is the one company that is going to really benefit from the leadership position over the next six months to a year. So if the investor has more than three months perspective I would suggest one to hold on, this stock will give better prices compared to these levels."

Disclosure: Analyst has personal positions in Tata Steel and Infosys and recommended Suryajyoti Spinning to his clients.