Saturday, August 9, 2008
Anand Rathi puts 'buy' on Tata Motors
7 Aug, 2008
Anand Rathi Securities has initiated a medium term technical 'buy' call on Tata Motors. The brokerage suggests buying this stock between Rs 430-440 with a stoploss of Rs 399 for a target of Rs 520. The current market price is Rs 440.
The stock has sustained above its strong resistance levels at Rs 435-440. The 14-day Relative Strength Index indicates the stock is in an oversold zone and the candle stick chart has formed a bullish engulfing pattern.
“We strongly believe that the stock has entered into medium term bullishness with substantial upside,” Anand Rathi says in its report
Labels: Tata Motors
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1 comments:
Hi,
Good blog. I read ur post and must appreciate your effort as blogger.
I also write a blog related to TA of markets, and I think its good to read your posts for a wider viewpoint.
Harish
http://indexviews.blogspot.com
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