February 14, 2017
Tata Motors (NSE Cash)
BUY
` 470
` 490 - 500
` 550
2 months
Daily Chart
Source: Falcon (Time: 09:25 IST)
Justification:
Being the stock with highest weightage (21.64%) in the Nifty Auto index, the trend of this stock definitely carries
substantial value in determining the trend of the index. The prices have formed a ‘Higher Top Higher Bottom’ structure
in the recent upmove from `428 to 552. In last few days, the prices have corrected from the high of `552, which just
seem to be a corrective move within an uptrend. At present, the prices are trading in the vicinity of the support zone of
`500 - 490. Thus, we advise traders buy this stock at current levels to a decline up to `490 for a target of `550 over
the next 2 months. The stop loss should be fixed at `470.
Ruchit Jain
022-3935 7600 Extn: 6554
[email protected]
1
February 14, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552)
Website: www.angelbroking.com
Email: [email protected]
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