Tata Motors Limited (TATAMOTORS) Stock - Complete Technical Analysis - Sep 16, 2024

Tata Motors Stock Analysis: Bearish Trends & Key Support Levels NSE Stock Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Tata Motors Limited (TATAMOTORS) Technical Analysis

Currently trading at 988.40, Tata Motors is significantly below its 52-week high of 1179.0, reflecting a 16.17% drop. However, it's trading 62.49% above its 52-week low of 608.3, indicating a strong recovery from recent lows.

Support and Resistance Levels:

Immediate Support: The stock is approaching key support around 1021.17 and 930.98, based on classic and Fibonacci pivot points. These levels are crucial for the stock's stability.

Resistance Levels: Immediate resistance is seen around 1098.58, with potential higher resistance at 1188.77 and 1266.18.

Technical Indicators:

MACD: The MACD is currently negative, signaling a bearish trend.

RSI: The RSI is in the oversold zone, indicating potential for a bounce or reversal.

ADX: With a relatively low ADX, the current trend lacks strong momentum.

Stochastic & Stochastic RSI: Both indicators are in the oversold zone, suggesting potential for a rebound.

Moving Averages: The stock is trading below its short-term EMAs and SMAs, highlighting a bearish trend in the short term. The 50-day and 200-day EMAs are significant resistance points.

Ichimoku & VWMA: The stock is below the Ichimoku Base Line and VWMA, further confirming bearish conditions.

Chart Patterns and Observations: The stock's recent performance shows it is at a critical juncture, trading below multiple moving averages, which typically signals a bearish trend. However, the oversold conditions on RSI and Stochastic indicators suggest that the stock might be due for a rebound. Traders should monitor the support levels closely as a breakdown could lead to further declines.