Tata Motors among the better performers in the market: Deepak Mohoni
Tata Motors is closer to the highs it made recently. It has not really fallen that much.
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| Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Tata Motors and other auto stocks.
What do you make of chart trends on these commercial vehicle companies?
Tata Motors and Mahindra are actually even now among the better performers in the market, not just in the segment. They are closer to the highs they made recently. They have not really fallen that much from here. But if you take TVS Motors, Ashok Leyland and in fact Escorts, they are in fairly severe downtrend, they are going below their 200-day moving averages, lower bottoms. Those 3 stocks are in bear markets. So there is a little bit of a divide here.
If there is a stock to buy on declines, it would have to be Tata Motors and Mahindra. But for the other 3, long time before they bottom out.
What do you make of chart trends on these commercial vehicle companies?
Tata Motors and Mahindra are actually even now among the better performers in the market, not just in the segment. They are closer to the highs they made recently. They have not really fallen that much from here. But if you take TVS Motors, Ashok Leyland and in fact Escorts, they are in fairly severe downtrend, they are going below their 200-day moving averages, lower bottoms. Those 3 stocks are in bear markets. So there is a little bit of a divide here.
If there is a stock to buy on declines, it would have to be Tata Motors and Mahindra. But for the other 3, long time before they bottom out.
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