Will the Share Price of Tata Motors Gain Anytime Soon? - 27th April

Today's Opening - 333

Today's High - 338

Today's Low - 331

Today's Closing - 337

I am writing on this stock for the first time ever. This was requested by one of my friends, Sandeep. In case you would like analysis of any particular stock, do let me know through the comments section, I will try to do my best.

 

Positive closing today, with volume on the lower side. This is not a good sign.

 

For the past two weeks, the 20-day Commodity Channel Index has been negative.

 

The stock has closed higher than the 5-day Exponential Moving Average today. However, for more than two years now, the stock has been rarely crossing the 5-day EMA. The six session higher closing period of 2-9th April was possibly the longest continuous stretch in a long time.

 

For the past two weeks, the Negative Directional Index has been stronger than the Positive Directional Index. Again, the trend has been similar for a long time now, Sep-Oct 2017 being the exceptional period.

The 2-day Relative Strength Index has remained below 50% for the past two weeks and except for the first 10 days of April, it has remained there for the past three months.

 

The 12, 26-day Moving Average Convergence Divergence has remained negative for more than three months now and it's never been different for a more than 5-6 days in a row over a long time now.

 

Tata Motors has built a strong support at 324. In case 324 is broken, the stock can come down sharply to upto 279. The stock has a resistance at 344. Keep accumulating the stock on every dip with a long-term view.