Trading Guide: Tata Motors among 4 stock recommendations for Friday

Post multi-month correction, the stock has witnessed renewed buying interest in the recent past. Sustenance above support of Rs 485 could keep near-term structure positive.

(Amit Trivedi, CMT, Technical Analyst - Institutional Equities, YES Securities)

The stock, after a consolidation, has witnessed a slight dip taking support near the significant 50 EMA and 200 DMA levels of Rs 426 which is a crucial support zone. It is anticipated to carry on with the positive move further. The RSI is well placed. We suggest buying and accumulating the stock for an upside target of Rs 480-500 keeping the stop loss of Rs 410 levels.

(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

The stock has witnessed a short correction and has attained the support zone of Rs 690. We anticipate a reversal from current levels and with the RSI also well placed and the candlestick indicating a triple-bottom formation on the daily chart, technically, the chances of further upward move in the coming days cannot be ruled out.
We suggest buying and accumulating the stock for an initial upside target of Rs 740 and thereafter further strength can take it to Rs 780 levels in the near future.

(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

The stock has recently corrected and witnessed consolidation near Rs 95 zone, maintaining above the significant 200 DMA level of Rs 94. A decisive move past Rs 102 level would trigger a breakout to carry on the momentum still further till Rs 110-112 zone.

(Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)