Stock to become rich with? Tata Motors share price to skyrocket 30 pct; Experts have this to say
For people who want to become rich through their investment strategy, here is what experts are recommending on Tata Motors share price.
An opportunity to become rich may just have opened for investors. Tata Motors share price has shot up from Rs 148 per stock levels to around Rs 169 levels. This rise in Tata Motors share price took place from the Muhurat Trading session and this has caught the attention of the stock market experts. In fact, some of the share market research analysts have already started to say that the 'Big Cat has started to roar' in regard to the Tata Motors counter. According to the share market experts, one dip in the Tata Motors share price to the level of Rs 150-155 per stock levels would be an ideal position to take a buy position in Tata Motors shares. They are expecting Rs 180 as an immediate target and in three months it would be Rs 200.
Speaking on the fundamentals of the Tata Motors share price NL Raghunandhan, Research Analyst at Emkay Research said, "On account of strong quarterly numbers the Tata Motors share price is expected to go upward. For those who have a holding position in the counter can book profit at around Rs 180 levels as the counter has surged from Rs 130 levels to Rs 170 levels in a very short time." He expected profit booking at around Rs 180 levels in the Tata Motors shares.
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Giving his idea about the new position that a stock market investor can take in Tata Motors shares Prakash Pandey, MD & CEO at Plutus Advisors said, "There would be a profit booking in the Tata Motors shares as it has skyrocketed from Rs 130 to Rs 170 levels in a very short time. However, once the profit booking starts, there would be a sharp decline in the Tata Motors share that would create a buy on dips opportunity for those who want to take a new position in Tata Motors share." Pandey went on to add that Tata Motors is trading in the range of Rs 140 to Rs 200.
Advising new position in Tata Motors share price Pandey said that one can buy Tata Motors at around Rs 150-155 for the first target of Rs 180 and second target of Rs 200. Asked about the time it would take to hit the above two targets Pandey said, "Tata Motors share price will hit its Rs 180 and Rs 200 targets in three months' time. But, one must maintain a stop loss at Rs 140 if he or she takes a buy position at Rs 150-155 levels."
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