Right from 140 or so, I have been bullish on Tata Motors because Tata Motors was one stock in the automobile sector that was showing solid relative strength while people had been bullish on fundamental basis on Mahindra and other stocks. Initially they were performing well but they have started going down but Tata Motors 200 to about 210 is a supply zone.
Although today right from say for the last one hour or so I see Tata Motors rising but you will find lot of resistance coming in between 206 and 210. Unless this range is decisively crossed, Tata Motors would take time to consolidate between the range of 190 and 210 but overall I am pretty bullish on Tata Motors.
I am expecting in 2012 Tata Motors would hit the zone between 265 and 275. It looks pretty good. At lower levels buy on declines should be the strategy.
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