Domestic stock market saw a sharp fall on Tuesday, as benchmark indices took a 'U-turn' and gave up early gains. The fall was seen ahead of the interim budget and the US Fed's policy outcome later this week. The BSE Sensex settled at 71,139.90, falling 801.67 points or 1.11 per cent for the day. Nifty50 index tanked 215.50 points or 0.99 per cent to end the session at 21,522.10. A few auto stocks namely Tata Motors Ltd, Maruti Suzuki India Ltd and Mahindra & Mahindra Ltd (M&M) are likely to be in focus today. Here is what Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher has to say on these stocks ahead of Wednesday's trading session: Tata Motors | Buy | Target Price: Rs 930-965 | Stop Loss: Rs 790 After a good consolidation three-months ago, Tata Motors had given a decent rally. The stock saw a fresh bullish candle on the daily chart, offering a decisive breakout above the Rs 830 to trigger for fresh upward move in the coming days, with potential targets of Rs 930-965 levels. The overall trend has been strong and indicators are showing strength. One can expect further gains keeping the stop loss at Rs 790 level.Maruti Suzuki India | Hold | Target Price: Rs 10,380-10,500 | Stop Loss: Rs 9,800 Maruti Suzuki has corrected to some extent in the last two months from the peak of Rs 10,930 level. The stock has come closer to the 200-period moving average of Rs 9,880, where it has shown signs of consolidation. A decisive move past Rs 10,100 would improve the bias and the stock can get ready for another round of upside, with initial targets of Rs 10,380 and Rs 10,500 levels, respectively. The near-term support can be maintained at around Rs 9,800 level, below which the trend can turn weak.Mahindra & Mahindra | Buy | Target Price: Rs 1,920-2,080 | Stop Loss: Rs 1,590 Mahindra & Mahindra has been in consolidation for quite some time, hovering near the significant 50-EMA level of Rs 1,625. It would need a decisive breach above Rs 1,660 level for the bias to improve. In such a case, one can expect a rise for initial targets of Rs 1,720 and Rs 1,800 levels, respectively. The downside support is visible near the important 100 period-MA of Rs 1,590 zone. The overall trend remains positive and from a medium term perspective, one can stay put on this stock for higher targets of Rs 1,920 and Rs 2,080 levels.
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