Rakesh Jhunjhunwala Portfolio Tata Motors shares have been in the consolidation phase since October 2021. While the stock tried to show some upward movement after the start of the new financial year, it outperformed the bulls and remained a ‘sell on rise’ stock till mid-June. 2022. However, it seems that the stock has exited the base building mode and looks set for a sharp rally in the near term.
According to a recent technical research report by brokerage firm Prabhudas Lilladher, it Auto Stock owned by Rakesh Jhunjhunwala Looks like the bottom has come down and looks ready for a pullback. The brokerage says that Tata Motors shares are ready for a pull back rally and the stock has recently crossed the 50 DMA and 200 DMA barriers and the stock may go up. 510 in the short term. Tata Motors share price is around today 450 each level, which means that the brokerage is expecting a rally of over 13 per cent in the short term in this Rakesh Jhunjhunwala stock.
Tata Motors Share Price Target
As per research report by Prabhudas Lilladher, “After a short correction the stock has bottomed out near 440 level and is currently looking to correct bias with the confluence of important moving averages like 200DMA and 50EMA pointing to the 452 zone. Nice pullback seen. “Golden cross” to consolidate trend. With RSI also showing a trend reversal to signal a buy, chart looks attractive with substantial potential moves anticipated in coming days We recommend Buy and accumulate this stock with a target of Rs. Keeping the 510 Stop Loss on 435.”
Rakesh Jhunjhunwala stake in Tata Motors
As per the shareholding pattern of Tata Motors for the April to June 2022 quarter, the late Rakesh Jhunjhunwala (then alive) held 3,62,50,000 shares, which is about 1.12 per cent of the total paid-up capital of the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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