Tata Motors can touch Rs 280: Parikh

Rikesh Parikh, Motilal Oswal Financial Services is of the view that Tata Motors can touch Rs 280.

Parikh told CNBC-TV18, “For Tata Motors Rs 265 is very good support zone. This stock has been sideways but showing some amount of positive divergence. So keeping Rs 265 as a stop loss we can look at around Rs 280 as a target on this stock.” He further added, “The PSU bank space has been outperforming today and it is showing some resilience since yesterday. In the broader market I will suggest that Dena Bank and Allahabad bank are two banks which are showing quite a bit of momentum and could be looked on the positive side.”