Tata Motors may slip to Rs 280-290: Anu Jain

Anu Jain, Director-Equities at IIFL Private Wealth Management told CNBC-TV18, "Maruti Suzuki held on very strong over the last couple of months, even when the market was volatile. In fact it was making some new highs. The way it gave up it seemed some people decided to book off the profits."She further added, "The charts also indicating profit booking and not a weakness. However, if we were to keep trading below Rs 3900 that is when the break in trend would kind of come in which it bounced off this time but if we see that happening for a second time that could probably indicate more weakness could drop down to Rs 3720 odd.""Tata Motors is a much weaker chart. We saw a pull back to the higher levels and now we are back to these levels. What it is indicative is basically that you would probably see another break down coming. This is a pull back, it can max take you to about Rs 360, but I see the previous lows closer to Rs 280-290 being tested again," she said.