Tata Motors Range-Bound With Positive Bias

There has been an increase in daily volume over the past two months

- Yoganand D

Here are the answers to readers’ queries on the performance of their stock holdings.

I wish to buy the stock of Tata Motors at current levels. What are its prospects?

Shanmukh Swamy

Tata Motors (₹136.7): The stock of Tata Motors is in a downtrend across long- and mediumterm time-frames. But in the short term, the stock has been in a sideways consolidation phase in the wide band between ₹110 and ₹140 since mid-August.

Within this range, the stock took base at ₹112 last week and started to trend upwards. The breaching of the key moving average has strengthened the bullish momentum. There has been an increase in daily volume over the past two months.