A TECHNICAL UPDATE ON TATA MOTORS LTD-18.11.2024

 

TATA MOTORS LTD 

CMP---- 774.30   ON   14.11.2024.

ATH--1179 made on 30.7.2024.

ATL----11.51 MADE IN 2001.

RECENT LOW----- 63.50 MADE ON 24.3.2020.

Support:734.75/696.20/670/665.40/641.90/621.85/612.40/593.30/536.70/494/440/400.

Resistance:788.50/827.60/855.40/894.30/921.20/949.20/967.20/1000.40/1010.25/1029.50/1050.35/1065.60/1107/1142/1179.

TECHNICAL VIEW:--

After hitting an all-time high of 1179 on 30.7.2024.it corrected and still into deep correction mode. The technical setup and the indicators are weak and indicates that it is likely to go down further from here possibly to 600---550 levels in coming days. The good range to buy the stock in a staggered manner would be between 600---550 and the worst price for the stock as of now seems to be in the range of 550--529, break & sustained close below 529 can drag it down to much lower levels. Similarly if it moves above 855.40 and sustain on the closing, then it will somewhat ensure that the up-move can extend for sure, therefore one can buy if it moves above  855.40 and sustain on the closing basis with a stop loss of 830.

IMPORTANT: DO NOT TRADE OR INVEST WITHOUT STOP LOSS. 

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A TECHNICAL VIEW ON TATA MOTORS LTD-1.7.2023

 

TATA MOTORS LTD

Open-588.35--High-599--Low-588—Close-595.55 on 30.6.2023. 

Support:585.90/576.55/562.50/557.70. 

Resistance:598.40/601/607.70/612.40/642/660/762/822/952/1088/1100/1160. 

(Bold and underlined figures are most important) 

The overall technical setup is good for the continuation of the up move, but it is near its all-time high of 612.40, so if it fails to cross this mark in the on-going up move then it could correct from here before resuming the up move again. It is important to mention here that it has made an Inverse Head & Shoulder Pattern on the monthly chart and the neckline is at 612.40, it is a highly bullish pattern and if it moves above 612.40 and sustains on the closing basis ,then its maximum upside target could be 1160. Please note that it may not achieve the maximum target but 30—40% upside from 612.40 could be there. 

In view of the above it is suggested that long trade can be tried if it moves above 612.40 and sustains on the closing basis with a stop loss of 595 or can try on decline at appropriate points or near 558 with a stop loss of 550. 

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

A TECHNICAL VIEW ON TATA MOTORS LTD-28.11.2020

 

TATA MOTORS LTD

Open-174.65--High-183.85--Low-174.65—Close-178.75 on 27.11.2020

Support:174/169/167.55/164/155.20/154.70/149.10.

Resistance:184.50/190/193.05/201.70/219.45/226.20/239.35/251.80/263/282/313.90/324.30/368.80.

All Time High:--612.40 Made on 3.2.2015.

Recent Low   :--63.50 Made on 24.3.2020.

(Bold and underlined figures are most important)

It is getting geared up for a big up move in coming months provided it respects it important key points mentioned below and most importantly if market conditions remain conducive. Moving up its major key points are at 190 & 193.05 sustained close above these points will open the door for a big upside move but going up it will face stiff resistance and the broad resistance points would be at 201.70---240---279---338---402---472---503. Similarly moving down its major key points are at 174---169---167.55---164---155.45(last figure will change with new upside movement in the price), it can be bought on decline but not below 155.45(this figure will also move up with fresh up move in the stock price/ stop loss will also move up) with a stop strict loss of 152 because sustained close below 155.45(it can change) can push it into long term correction mode and may potentially threaten the uptrend also. The present important range for it is between 193.05----167.55----155.45.

The short term technical setup is good but it will take some time for the medium and long term technical outlook to improve, so have patience and accumulate the stock on decline or above important points for smart gains. I once again repeat to exit long position if it sustain below 155.45(this figure will also move up with fresh up move in the stock price) on the closing basis. Please note that you can structure your trade or investment with the help of above mentioned support and resistance points.

The investment time horizon is 15-18 months and the possible upside target could be 360—400 or may be more, will review again once the said target is achieved.

 It is strongly suggested to trail your stop losses (with the help of support levels mentioned above) in the profitable trade to avoid losses completely. PLEASE NOTE THAT IT IS PURELY A TECHNICAL CALL. DO NOT TRADE OR INVEST WITHOUT STOP LOSS.

NOTE: - It is the technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore investors are advised to look into fundamental, financial details of the company and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.