Tata Communications Limited (TATACOMM) Stock - Complete Technical Analysis - Sep 04, 2024

Tata Communications Stock Analysis: Key Support

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 Communications Limited, currently priced at 1,952, shows a mixed technical outlook based on various indicators. The stock is trading above key moving averages, with the Exponential Moving Average (50) at 1,889.47 and the Simple Moving Average (50) at 1,882.79, indicating a positive short to medium-term trend. Support levels are seen around the Classic Pivot S1 at 1,849.22 and the Fibonacci Pivot S1 at 1,854.59. Resistance levels are marked by the Classic Pivot R1 at 2,040.17 and the Fibonacci Pivot R1 at 2,000.48.

The Average Directional Index (ADX) at 19.05 suggests a weak trend, while the Relative Strength Index (RSI) at 57.51 indicates a moderately strong momentum without being overbought. The MACD Level is positive, showing a bullish signal. However, the Ultimate Oscillator at 45.76 and the Williams Percent Range at -37.72 hint at potential price consolidation.

Stochastic indicators show the %K at 78 and the Stochastic RSI Fast at 85.26, reflecting overbought conditions, which might lead to a price pullback. The Awesome Oscillator at 66.2 supports the current uptrend, but traders should monitor the Average True Range (ATR), which highlights increased volatility in recent periods.

In summary, Tata Communications is positioned in a strong uptrend but caution is advised as overbought conditions may lead to short-term corrections. Support levels should be monitored closely to gauge potential price reversals.