Walmart-Tata Deal: Stock market experts bet high on Tata Consumer shares; predict bumper returns in just six month
Walmart Tata Deal: Tata Consumer share price history suggests that the Tata group company stock has made a high of Rs 578.50 in the last one month while it made its one month low of Rs 488.65 in the same period.
Walmart Tata Deal: Tata Consumer share price history suggests that the Tata group company stock has made a high of Rs 578.50 in the last one month while it made its one month low of Rs 488.65 in the same period. However, if we go by the stock market experts' view, the stock is expected to gain on the back of the much talked about Walmart Tata Deal in which the US company is expected to invest around $25 billion - in Tata Group's Super App. They said that this deal is expected to push Tata Consumer shares northward in short-term and mid-term as the deal will be sealed in around 3-4 months and hence its impact will continue to fuel the stock in next six months to come.
Speaking on the Walmart Tata Deal impact on the Tata Consumer share price in immediate short-term, Sumeet Bagadia, Executive Director at Choice Broking said, "Due to the Walmart Tata Deal, Tata Consumer shares are expected to get major benefit and in the immediate short-term we can witness it hitting Rs 530 to Rs 550 mark." On what does the immediate short-term means, Bagadia said, "Immediate short-term means around 10 to 15 days time horizon." He said that Tata Consumer shares have a strong support zone in Rs 480 to Rs 500 region and currently is trading at Rs 505. Bagadia advised investors to buy Tata Consumer shares in this range.
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Speaking on what the technical chart suggests in regard to the Tata Consumer shares, Simi Bhaumik, a SEBI registered technical stock analyst said, "On the technical chart, Tata Consumer shares are highly bullish in short-term and mid-term time-horizon. It has a strong support zone from Rs 490 to Rs 500 and one can buy Tata Consumer in this range maintaining the stop loss at Rs 475 per stock levels."
On Tata Consumer share forecast or the targets for which one can hold this stock in short-term and mid-term time horizon, Bhaumik said, "In short-term time horizon, one can hold Tata Consumer shares for Rs 560-570 per stock levels while for mid-term or around six-month time frame, the stock is poised to hit Rs 650 to Rs 700 per shares."
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