Tata Motors may face strong resistance at 800-850: Dynamix Research

ET Now talks to Sanjeev Agarwal, Director, Dynamix Research and Capital Management on Tata Motors.

On the technical front how are you viewing in stock like Tata Motors and Hero Honda? Some analyst are saying that in the long term Tata Motors the range will be between 800 to 1000, is what they are looking at?

Definitely it has a very strong run up after the budget but what I feel 800-850 is a range where it will be having a very strong resistance and the way generally auto sector has done well in the last one year I feel there will be some kind of a consolidation at these level.

Looking in the larger market view that the Nifty may fall sharply after some consolidation or some distribution out here I feel it will be better to book profits at the upper range and stay liquid.

I feel in the coming years the cash is going to be the king and but definitely if you lighten your exposure you will get much better opportunities at lower level so at a higher levels profit booking is that name of the game.