Aditya Agarwal of Way2Wealth is of the view that one may take long positions in Tata Motors when the stock comes in range of Rs 335-340. â€œOne may take long position in Tata Motors (DVR) with a target of Rs 180-185,â€ he adds.
Aditya Agarwal of Way2Wealth told CNBC-TV18, "Tata Motors has given a good breakout in today’s session. It was trading in the range of Rs 325-330 on the higher side and on the lower side Rs 275 was the support area. Today this stock has already given a good breakout and we had seen a rally of more than 7 percent.”
He further added, “On higher side, we are expecting that Rs 360 will be the area where we can see some supply in Tata Motors. So at this level, Tata Motors is not giving you a better buy opportunity because the stop loss is not coming in favours of the buyer. However, overall structure is positive.”
“If there is any profit booking and the stock comes in the range of Rs 335-340 that will be a good time when one can make long position in Tata Motors. If we compare Tata Motors (DVR) then it is still looking bullish. We are expecting the Tata Motors DVR may see some more buying from these levels and it may outperform Tata Motors in short-term. So with a target of Rs 180-185, one can make long position in Tata Motors DVR.”
Disclosure: Stock which we have discussed, they have recommended to their clients also but personally he does not hold any position.