Shardul Kulkarni of Angel Broking told CNBC-TV18, "One should hold on to Tata Motors. The stock in a very strong higher top, higher bottom on the weekly as well as the monthly charts. I don’t see any reason why one should sell Tata Motors even in the current correction or consolidation which is going on. One should place a trailing stoploss at Rs 325 and as the stock trades above Rs 325, the weekly and the monthly charts will remain positive. I think that there are brighter prospects in Tata Motors over the next few years to come."
At 13:22 hrs Tata Motors was quoting at Rs 372.35, up Rs 2.15, or 0.58 percent. It has touched an intraday high of Rs 374.25 and an intraday low of Rs 368.10.
The share touched its 52-week high Rs 405 and 52-week low Rs 252.10 on 28 November, 2013 and 05 April, 2013, respectively. Currently, it is trading 8.06 percent below its 52-week high and 47.7 percent above its 52-week low. Market capitalisation stands at Rs 119,847 crore.
Disclosure: He may have positions in the stock and have recommended it to his clients.
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