Tata Motors Limited (TATAMOTORS) Stock - Complete Technical Analysis - Oct 22, 2024

Tata Motors Stock Analysis: Will it Reverse Soon TATAMOTORS

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. The current market scenario for Tata Motors Limited shows mixed signals. With the stock priced at 879.50, it stands 25.40% below its 52-week high of 1179.00. This indicates a key resistance point where traders may see selling pressure. On the flip side, it's 41.43% above the 52-week low of 621.85, which highlights a recovery trend from lower levels. Recent trading sessions showed volatility, with today's trading opening at 905.00 and reaching a low of 875.25.

The technical indicators suggest caution. The MACD is in negative territory, pointing to bearish momentum, while the RSI indicates oversold conditions at 29.79. This could present a potential reversal opportunity, especially since the Stochastic indicators are also showing oversold levels. The ADX is high at 43.53, indicating a strong trend that could continue.

Additionally, the stock is trading below its short-term EMAs, which suggests that the resistance levels are present at around 910 and 932. In contrast, immediate support lies near 914.23, with further support at 853.82, which traders should watch closely for potential buying opportunities. If the price breaks above 910, it could signal a bullish trend reversal, whereas trading below 900 may indicate further bearish action. Monitoring these levels will be crucial for informed trading decisions.