Tata Motors may test Rs 560: Amit Harchekar

Amit Harchekar – Chief Technical Strategist at A PLUS Analytics is of the view that Tata Motors may hit Rs 560.

Amit Harchekar – Chief Technical Strategist at A PLUS Analytics told CNBC-TV18, " Tata Motors  has given a breakout from an inverted head and shoulder pattern and that is also visible from the fact that on derivatives side major long build up has happened with an average price of somewhere around Rs 520 levels."

"We are expecting a price target of around Rs 555-560. I fact within the auto space we are expecting Tata Motors to outperform the entire auto sector and make an incremental high in the coming days. So we are quite optimistic on Tata Motors and recommending the stock with
a stoploss of Rs 516 for a target of Rs 560," he said.

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