Techno-Funda-Feature-Image

Tata Motors Group (Tata Motors) is a $35 billion organisation. It is a leading global automobile manufacturing company. Its diverse portfolio includes an extensive range of cars, sports utility vehicles, trucks, buses and defence vehicles. Tata Motors is one of India’s largest OEMs offering an extensive range of integrated, smart and e-mobility solutions.

Company TATA MOTORS
Recommendation Buy 440
SL Rs.410
Target Price Rs.500/510
CMP Rs.440
Time Horizon 4-6 Weeks

Techno-funda-tata

Long term trend of the stock is up but from last couple of week stock is continuously declining and corrected more than 17% percent from its 52 week high which was 536 Which show short term trend of the stock is down. Talking about recent price action it has consolidating in a narrow range between 420-440 but in last trading session it shows the strong sign of range breakout, sustainability above 445breakout will confirm and a sharp rally expected towards its 52 week high. Rsi has also confirmed that it can rebound from the current level. Going ahead we can expect a vertical moment in stock. So one can initiate buy at current level that is 440 with a stop loss of 410 and respected target seems up to 500/510 level.  Any dip between 440-420 would be good for accumulation for better risk reward. Time frame should be 4-6 weeks.

Source: Capitaline Database, EWL Research, Reuters

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