Parag Doctor, Head - Trading Strategies, Keynote Capital's Ltd told CNBC-TV18, "Tata Motors has been making a very strong base around the Rs 270-280 levels for the last several weeks. So, that is where the stop loss has to be placed. I would expect the resistance around the Rs 310 levels from where today the stock has corrected, to be crossed pretty soon maybe in the next month or so. Then the stock would be testing its all time high around the Rs 340 levels, which should happen in the next month or two and that would be a good point to book profits if one wants short-term trading profits. Otherwise, Tata Motors is a good portfolio pick for the long-term. Maybe in the next year or so it is heading to around the Rs 400 levels or so."
At 14:46 hrs Tata Motors was quoting at Rs 305.60, down Rs 2.80, or 0.91 percent. It has touched an intraday high of Rs 309.50 and an intraday low of Rs 304.10.
The share touched its 52-week high Rs 337.05 and 52-week low Rs 213.90 on 10 January, 2013 and 26 July, 2012, respectively. Currently, it is trading 9.33 percent below its 52-week high and 42.87 percent above its 52-week low. Market capitalisation stands at Rs 97,489.94 crore.
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