Tata Motors: Falling towards its support line

TATA MOTORS Daily NSE Stock Chart Technical Analysis

The price made a small movement today and closed at 1301 (very near to its opening price)

Market Outlook:

• The price could fall further, target is the support at 1265.
• Big fat chance that the price will rebound once it hits the support line at 1265 and rise again.

Technical Indicators:

• The price is falling currently after hitting the resistance at 1371.
• After an all-day fall yesterday, today a Doji candlestick formed; giving hope that the market is in a mood to honor its support level at 1265.
• Once the price hits 1265, there is a very good chance it'll bounce back and go upto 1376.  But this will only confirm once the price reaches support.

All previous posts about Tata Motors

TATA MOTORS Daily NSE Stock Chart Technical Analysis

Tata Motors: Resistance Too Strong

TATA MOTORS Daily NSE Stock Chart Technical Analysis:

Tata Motors made a weak rise today and remained bound in a very short range.

Market Outlook:

• The price faced very strong resistance at 1371 today and failed at the attempt to rise above it.
• There is a good chance that the price will start falling, don't get into this one right now, unless you are looking for opportunities to short.
• When it starts to fall, the target for shorting would be around 1270.

Technical Indicators: 

• There is a long term line of resistance prohibiting price rise.
• The price tried to break through this resistance line today as well as 4 days ago, and failed on both attempts.
• There was a Doji formation yesterday and a small range bound trading today.
• The price is very well into oversold levels.
• All indicators point downwards at the moment, the stock is ready to fall towards its support.

All previous posts about Tata Motors 

TATA MOTORS Daily NSE Stock Chart Technical Analysis

Tata Motors Weekly: 25 to 29 Oct 2010: Doji Formation

Tata Motors Weekly Stock Chart on NSE: Technical Analysis

The trading of Tata Motors has reduced this week, and the price has moved sideways.  Next week could see a negative candle being formed (price at end of week will be lower than beginning of week), if the buying interest slows down further, as people will think that the market has reached its top and so begin to sell their positions.

Technical Indicators:

• After a steep rise in the previous weeks, a second doji candle has formed this week.  This shows that buying has slowed down and people are holding on to this stock.  
• This is also visible in the slowed down volume of this stock.  The market is waiting before deciding on whether to buy or sell Tata Motors.