2024-10-04 11:33:10 am | Source: Religare Broking
Stock of the day : Tata Motors Ltd For Target Rs. 45 - Religare Broking
TATA MOTORS LTD
* Auto index witnessed pressure recently, and Tata Motors exhibits major signs of weakness
* The stock trading in a distribution phase and has experienced a fresh breakdown falling below its downward sloping trend line
* Recent price action and oscillators lead Stock to close below 200EMA, which was it’s long term moving average and important support zones
* Fresh liquidation cannot be ruled out
* Traders can consider accumulating Puts in the mentioned range.
BUY 920 PE Tata Motors Ltd CMP 22.5 Range 20-23 SL 11 Target 45
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