Buy Tata Motors Ltd., target Rs 555.0 : CapitalVia Global Research Ltd

CapitalVia Global Research Ltd has Buy call on Tata Motors Ltd. with a target price of Rs 555.0. The current market price of Tata Motors Ltd. is 525.45. Time period given by analyst is week, when Tata Motors Ltd. price can reach defined target. After a strong rally, the stock is consolidating tad below its resistance level of around Rs 520-525. The medium term trend is extremely bullish as the stock is consistently trading above the 50-days moving average. The momentum indicators are in favour of further up move. A breakout above the level of Rs 525 could fuel further momentum where long positions can be initiated for the target of Rs 555. Traders can put a stop loss at Rs 505.