Sell Tata Motors in Rs 221-231 range, says Anil Manghnani, Modern Shares & Stock Brokers.
Manghnani told CNBC-TV18, "In the last three-four sessions Tata Motors has not done anything much with rest of the market which suggests that maybe it fatiguing out. Rs 223-231 is a very tough resistance zone for Tata Motors to cross and having rallied all the way from August lows of Rs 137, that's a pretty significant move. So you sell in this range Rs 221-231, expect a price closer back to Rs 200-190 range."
He further added, "Similarly DLF had a nice 9-10 day rally, made sort of Doji pattern on the chart, which suggests that it's finding resistance at this range. So Rs 218-227 is a sticky range for DLF with a move back to Rs 204 on the cards."
