Short Tata Motors (DVR), Hemant Thukral

Short Tata Motors (DVR) with stoploss of Rs 162 and target of Rs 150-151, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "I was just looking at the stocks where maximum shorts have been added up on Thursday, Friday sell off and Tata Motors (DVR) is the one which particularly has seen a huge pile up of shorts and I think that specially triggered on Friday because it broke very crucial support of Rs 162 on the downside."
He further added, "Now, I feel that Rs 162 will become a very big resistance and I do see the counter coming back to take support around Rs 150-151 levels. So for me, traders can go short keeping a stop loss of Rs 162 and a target to retrace back to Rs 150-151 on the counter."