Tata Motors can touch Rs 190, says Sukhani

Sudarshan Sukhani of s2analytics.com feels that Tata Motors can touch Rs 190.

Sukhani told CNBC-TV18, "In Tata Motors I assumed Rs 230-240 is holding but it did not hold. Once those levels are broken then one cannot challenge the wisdom of the market. The next support level is Rs 190. I do not know whether it will reach there but the trade is on the downside for the day and for the next couple of days and with Futures & Option (F&O) expiry the trend which exists gets increased. So Tata Motors remains a short sell. This could touch Rs 190 during August because market could remain quite choppy."

He further added, "BF Utilities had a rally and that rally seems to have fizzled out. It is not making new lows. It was in a narrow range for last two day. That narrow range can be resolved on the upside or the downside but the fact that it turned around from its highs and made big bars on the downside suggests that it's going to move lower. There is a tight stop loss."

"I have noticed that when BF Utilities moves lower then it starts moving significantly. It makes big moves once it decides where to go. So it is worth taking a short position."

Disclosure: I have no holdings in the above stocks.