Tata Motors may add 10%, says Atul Badkar of Edelweiss Securities.
Badkar told CNBC-TV18, "Based on charts Tata Motors has already moved up substantially. I think the stock is up about close to 17% from the last settlement day. The open interest has come off by about 25%, so this is short covering.”
He further added, “It has given a good pattern on charts and from here if it breaks out it can move close to 10% quite easily. What remains to be seen in whether this liquidity flow continues? Within the entire auto space from a short-term trading perceptive with a slightly stronger heart Tata Motors looks well for the next move of about 10%."
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