IndiaTechnical Analysis

Tata Motors – Technical Analysis

We can see that TATA MOTORS daily candlestick has got a breakout, with a good volume, at 291-292 level on 1st Sept 2021. We can further see that on the very next trading day the Stock retested its crucial level of 291-292. On 3rd Sep 2021, we can again see bullish candlesticks supported by good volume. Thus, it is now ready to move further and we can take a fresh entry for a good target in the upcoming days

tata motors - Technical Analysis

What’s Next?

We have seen earlier that the stock has retested again to its crucial level – successfully fulfilling another condition for a bullish swing trade. Now we are waiting for the stock to break the high of 1st Sept 2021 so that we can take a bullish position in this stock for a target of 302, 312, 326.50 as Tgt 1, Tgt 2 & Tgt 3 with an SL of 286 for a holding of 15-30 Days

Please refer to the image below

Tata Motors - Technical Analysis


The Stock is trading in between 0.236 & 0.382 Levels and as per Fibonacci Levels. We expect 302.60 as our next target in TATA MOTORS and the chances of retracement from 302.60 levels according to the concept of Fibonacci. If it breaks and sustains a level above 302 successfully, we can see next targets of 313.50, 324.30, 340 which are at 0.5, 0.618, 0.786 levels of Fibonacci

Our Technical Take 

We could take a bullish position in TATA Motors above 296 and wait for a Tgt of 302, 311, 32 with an SL of 286 and a holding period of 15-30 Days

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