Technical Analysis of (NSE: TATAMOTORS) Tata Motors Limited Fully Paid Ord. Shrs:
TECHNICAL ANALYSIS ON MONTHLY CHART
: Technical looks that the major trend is the bearish and short-term trend is also bearish, price strongly moving toward downside since 3-year recent support break at 275, Active Trendline is bearish, recently price break its 5 year low which will be at 199, next support will be at 140 it is also 7year low and same price having 0.38% Fib extension level.
As you know that Standalone PE 125, making stock highly overvalued, but consolidated PE 4.31, will look like highly undervalued stock, but at the end stock price falling since 2 years, So our advice is that if you are looking very long term in this stock you can add more quantity at level of 200, Short-term target will be 275.
FOR THREE MONTH: SELLING WILL BE GOOD.
FOR 1YEAR: NOT RECOMMENDED.
FOR 3YEAR: BUT WITH SHORT TERM TARGET: 270