Book profit in Tata Motors around Rs 243- 244: Murlidharan

Murlidharan told CNBC-TV18, “Looking back into Tata Motors right from the time when the results came in and it was really disappointing. We saw the follow up selling coming in into the cash market as well. The weighted average price of all this activity from that day onwards stands at somewhere close to Rs 254 on the stock.”

He further added, “Today because of the JLR news we have seen Tata Motors reaching up but the point here is, it needs to cross the Rs 246-248 because that happens to be the average at which you would actually see a good short covering which can take it to Rs 260. So still if its a trading bet I would still say you can go long but somewhere close to around Rs 243-244 you should booking your long positions in that.”