Anand Rathi puts 'buy' on Tata Motors
7 Aug, 2008
Anand Rathi Securities has initiated a medium term technical 'buy' call on Tata Motors. The brokerage suggests buying this stock between Rs 430-440 with a stoploss of Rs 399 for a target of Rs 520. The current market price is Rs 440.
The stock has sustained above its strong resistance levels at Rs 435-440. The 14-day Relative Strength Index indicates the stock is in an oversold zone and the candle stick chart has formed a bullish engulfing pattern.
“We strongly believe that the stock has entered into medium term bullishness with substantial upside,” Anand Rathi says in its report
Showing posts with label Tata Motors. Show all posts
Showing posts with label Tata Motors. Show all posts
Saturday, August 9, 2008
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