Buy Tata Motors on decline: Kotak Securities
ET Now talks to Shrikant Chouhan, Senior Vice President Technical Research, Kotak Securities on Tata Motors.
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| ET Now talks to Shrikant Chouhan, Senior Vice President Technical Research, Kotak Securities on Tata Motors.
Talking about Tata Motors at a target of 790, is this a position trade or swing trade?You have put a stop loss of 730, does it concern you that the odds of falling are also there?
Absolutely yes because right now, we are expecting correction in the market, so if this stock comes down to 745 levels, 750 levels, it is a buy and the stop loss is very minimal because the stock is having very good support of last 15 days average at 730.
So from there again, we can expect one momentum up to 790 or maybe even 800. We have seen very clear outperforming rally of last five days in this particular stock. So that is why I am choosing this particular stock to buy on declines.
Talking about Tata Motors at a target of 790, is this a position trade or swing trade?You have put a stop loss of 730, does it concern you that the odds of falling are also there?
Absolutely yes because right now, we are expecting correction in the market, so if this stock comes down to 745 levels, 750 levels, it is a buy and the stop loss is very minimal because the stock is having very good support of last 15 days average at 730.
So from there again, we can expect one momentum up to 790 or maybe even 800. We have seen very clear outperforming rally of last five days in this particular stock. So that is why I am choosing this particular stock to buy on declines.
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