Tata Motors hits near 2-month high; further upside seen - technicals

Last Updated: Tue, Jan 10, 2017 11:45 hrs
Tata Nano

Tata Motors Ltd gains as much as 2.96 pct, its highest since Nov 11.

Stock's 20-day simple moving average cuts above its 50-day SMA, seen bullish for the stock.

Trend Intensity indicator (TI) rises to 16 from Monday's level of 14, indicating a new uptrend.

MACD is also positive and above its signal line, favourable for the stock.

As per Thomson Reuters StarMine data, 33 of 42 analysts covering the stock have "buy" or "strong buy" rating, five as "hold" and four have "sell" or "strong sell" ratings on the stock.

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