Buy Tata Motors, says Sahil Kapoor

Nov 19, 2013, 02.28 PM IST

Sahil Kapoor of Edelweiss Securities recommends buying Tata Motors as the stock may touch Rs 425-430.

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Buy Tata Motors, says Sahil Kapoor

Sahil Kapoor of Edelweiss Securities recommends buying Tata Motors as the stock may touch Rs 425-430.

Like this story, share it with millions of investors on M3

Buy Tata Motors, says Sahil Kapoor

Sahil Kapoor of Edelweiss Securities recommends buying Tata Motors as the stock may touch Rs 425-430.

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Sahil Kapoor of Edelweiss Securities told CNBC-TV18, "From current levels Tata Motors is going to be the outperformer. It is one of the best outperformers. At current levels, it is just seeing some profit booking in consolidation below its previous high which is about Rs 402. So after this small consolidation, I think there is a good chance that the stock is going to rise towards Rs 425 and Rs 430 levels and current levels of Rs 388-389 are attractive buys."

"The recent low that the stock made of 50 day moving average (DMA), is a very good trailing stoploss. The stock is not breaching its 50 DMA and the trend is quite strong. So I think this current rally should stretch towards Rs 425-430, so Tata Motors is a good long at current levels," he said.

Disclosure: He has advised his clients to hold position in the stock.

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