This document provides a stock analysis and recommendation for Tata Motors Ltd. It recommends selling the stock between the current market price (CMP) of Rs.559.60 and Rs.575, with a stoploss of Rs.490 and target price of Rs.600 over the next 2-4 weeks. For Jaiprakash Associates Ltd, it recommends selling between the CMP of Rs.25.80 and Rs.28.00, with a stoploss of Rs.20.50 and target of Rs.29.00 over the next 1-2 months. The analysis of Tata Motors Ltd notes the formation of a bearish reversal pattern and predicts the stock could fall to Rs.490 based on technical indicators showing

1. RETAIL RESEARCH
Stocks CMP Recommended Action SL* Target Time Horizon
Tata Motors Ltd Rs.559.60 Sell between CMP & Rs.575 Rs. 600 Rs.490 2-4 Weeks
Jaiprakash Associates Ltd Rs.25.80 Sell between CMP & Rs.28.00 Rs. 29.00 Rs.20.50 1-2 Months
* Stoploss as per daily closing basis.
Tata Motors Ltd:
Tata Motors daily timeframe
Current Observation:
 A detailed study of Tat Motors as per daily and weekly timeframe is suggesting a significant top reversal
pattern here.
 We observe a formation of bearish top reversal pattern of 'island reversal' around Rs.606-610 levels
(formation of horizontal type gap between few set of candles-brown parellel lines).
 On the confirmation of this pattern could open up the potential downside target for the stock down to Rs.490
(which is a beginning of upmove at the pivot low of early Jan-15).
 The weekly timeframe is suggesting a confirmation of top reversal pattern and the stock price is currently
placed at the edge of breaking below the next support of around Rs.545 (brown horizontal line). Break below
that support could have further negative impact on the stock price.
 Weekly 14 period RSI has completed its bullish range movement, as it turned down from upper 70 levels.
From here, the weekly RSI could reach the lower 45-40 levels. This means more weakness for the stock
price.
 Negative chart and momentum pattern is indicating an opportunity for sell trade in Tata Motors Ltd for
coming weeks.
Weekly momentum stock pick
A near to medium term trading perspective
February 06, 2015

2. RETAIL RESEARCH
Technical Research Analyst: Nagaraj Shetti (H5101)
RETAIL RESEARCH Tel: (022) 3075 3400 Fax: (022) 2496 5066 Corporate Office
HDFC securities Limited, I Think Techno Campus, Building - B, "Alpha", Office Floor 8, Near Kanjurmarg Station, Opp. Crompton Greaves, Kanjurmarg (East),
Mumbai 400 042 Phone: (022) 3075 3400 Fax: (022) 2496 5066 Website: www.hdfcsec.com Email: hdfcsecretailresearch@hdfcsec.com
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