Short Tata Motors, says Amit Harchekar

Amit Harchekar of aplusanalytics recommends shorting Tata Motors with a target of Rs 502.

Amit Harchekar of aplusanalytics told CNBC-TV18, "We have recommend a short on Tata Motors . Tata Motors on ADR terms has already given a break down from a running triangle and it is a classic example of short build up. In last two trading sessions the stock has seen an addition of nearly 6 lakh shares of open interest on the short side and that projects the stock could fall all the way around Rs 490-500 level in the coming days."

"I would recommend this stock with a stoploss of Rs 553 and a target of Rs 502 in the coming days," he added.

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