Keep stoploss at Rs 160 for Tata Global: Manghnani

Anil Manghnani of Modern Shares & Stock Brokers advised keeping the 50 day EMA of Rs 160 as a stoploss for Tata Global Beverage. 

Manghnani told CNBC-TV18, “If you see the last 2-3 months of the major move in the Nifty, some of the names that did well throughout last year haven’t really performed and I think one of them is Tata Global. It is slowly, but steadily drifting down. It has broken a key level at Rs 154, which makes me believe that it is headed towards the 200-day average of Rs 141-136. So, I am keeping the 50 day EMA as a stoploss of Rs 160.”