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Lokeshwarri S.K.

The chart of Tata Motors weakened considerably last week as it fell way below its 200 day EMA and went on to test its June 2006 low.

The price needs to rally above Rs 736 to restore stability and to take the price to Rs 757 or Rs 788.

Failure to take the price past Rs 736 will see the price weakening to Rs 639 and then Rs 607.

There is good long-term support around the Rs 630 area where we can watch out for a bounce.

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