Jan 21, 2013, 09.49 AM IST

Go long in Tata Motors (DVR), says Sukhani

Tata Motors (DVR) is suggesting that a cross of Rs 188 is likely. That takes it to new highs, it is actually lifetime new highs. It is worth trading on the long side, says Sudarshan Sukhani of s2analytics.com.

Sudarshan Sukhani, Technical Analyst ,s2analytics.com

Expertise : Equity - Technical

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Tata Motors (DVR) is worth trading on the long side, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "You see all sorts of bad news came for Tata Motors nothing happened except for a sharp dip on one day that was Wednesday I think. The stock has moved up, the DVR gives us a little more bank for the buck. So it is wiser to trade in DVR than in the main equity that’s all."

He further added, "The DVR is suggesting that a cross of Rs 188 is likely. That takes it to new highs, it is actually lifetime new highs. It is worth trading on the long side same point. In a choppy market there will be some stocks that go up and we want to focus on them."

Tata Motors (DVR) touched its 52-week high Rs 189.90 and 52-week low Rs 110.05 on 23 April, 2012 and 18 January, 2012, respectively. Currently, it is trading 1.63% below its 52-week high and 69.74% above its 52-week low. Market capitalisation stands at Rs 5,994.01 crore.

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