SENSEX NIFTY
Feb 18, 2013, 11.31 AM IST | Source: CNBC-TV18

Go long on Tata Motors, to retest Rs 317-320: Thukral

Hemant Thukral, National Head-Derivative Desk at Aditya Birla Money said he would be going long on Tata Motors. He expects the stock to retest Rs 317-320 in immediate short-term.

Hemant Thukral

National Head- Derivative Desk

Expertise : F&O

More about the Expert...

Hemant Thukral, National Head-Derivative Desk at Aditya Birla Money said he would be going long on Tata Motors . He expects the stock to retest Rs 317-320 in immediate short-term.
 
Thukral told CNBC-TV18, “Very few counters saw fresh long open interest built up on Friday. It was more of a short covering rally. Tata Motors was definitely one of them. You have seen 6 percent open interest being added up.”
 
“Not only that, the Put writers have accumulated very aggressively at Rs 300 levels, which clearly suggesting that the stock has huge support now around Rs 294 to Rs 300 band. So, traders should keep a stop loss of Rs 297. We do expect this stock to retest Rs 317-320 in immediate short-term, which will be a resistance band for it. So, I would be going long on Tata Motors in next two-three sessions,” Thukral added.

Set email alert for

ADS BY GOOGLE

video of the day

HDFC Bank, ICICI Bank top picks: Jitendra Sriram

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.