Tata Motors - Weekly

Tata Motors has been a big laggard during the recent bull market rally where towards the end of the rally it had already started it downward correction which we are right now noticing. What becomes important to see in the stock is that the Fundamentals of the company are strong however they are currently facing some tailwinds on account of JLR performance and hence the stock is underperforming. However one must remember that the current Chairman is the same CEO who guided TCS to overtake Infosys as the number IT company over the past few years and he has proven track record. Tata Motors has always rewarded it's shareholders post a good correction of around 30-40% from its bottom figures. Tata Motors can be expected to bottom out at mentioned levels on the chart over the coming period and can be seen as a good area of accumulation. A good stop loss could be a convincing break below the rising trendline on closing basis.


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