Exit Force Motors, says Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Force Motors after a good run over the last few months it has come down to retest its 200-day exponential moving average. 200-day exponential moving average as at the end of yesterday stood at Rs 2,871, it is trading below that."

"My point is that this is the first test after 200-day was breached and there was a good upside up to Rs 4,000 so from here one can expect the pullback rally because whenever the 200-day exponential moving average is tested for the first time you generally get a pullback rally like the one you are experiencing in the Nifty although it is now losing steam, but still there would be a rally even for an individual stock like Force Motors. On rally if it fails to actually move up further at that point of time one may consider exiting otherwise if it were to fall below Rs 2,700 then second exit."

At 15:22 hrs Force Motors was quoting at Rs 2,785, down Rs 14.10, or 0.50 percent.

The share touched its 52-week high Rs 4,810 and 52-week low Rs 2,775.80 on 06 April, 2017 and 12 March, 2018, respectively.

Currently, it is trading 42.1 percent below its 52-week high and 0.33 percent above its 52-week low.