Buy Tata Motors Ltd., target Rs 560.0 : CapitalVia Global Research Ltd

CapitalVia Global Research Ltd has Buy call on Tata Motors Ltd. with a target price of Rs 560.0. The current market price of Tata Motors Ltd. is 513.85. CapitalVia Global Research Ltd recommended to keep stop loss at Rs 510.0. Overall, the stock is in a strong uptrend on its daily chart and is trading above its both short as well as medium term moving averages of 10 and 50-days period, indicating a positive trend. The stock is trading near its important support level of Rs 510-515. The stock is likely to gain upside momentum if it manages to cross its crucial resistance level of Rs 525. Once it breaks out, it may test the level of Rs 560 level.