Panda told CNBC-TV18, " Tata Motors has seen lot of short positions buildup after this news and today also a lot of positions, open interest has increased considerably compared to yesterday we see more that 160 percent open interest increase on the total volume side. So we believe that yes once it has broken the Rs 300 level we should see Rs 282 is the target where the next support should come in. So Rs 310 where we should keep our stop loss and certainly we should look at lower levels, the kind of short positions building not only on the March series, we see April also opening up at an early stage. So we believe the concerns may remain for a longer duration."
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Below Rs 300, Tata Motors has support at Rs 282: Panda
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