Top Gainers

Why Tata Motors (TAMO) Stock Rallied 20% Today? What’s Ahead?

Tata Motors Ltd

NSE :TATAMOTORS   BSE :500570  Sector : Automobile

About Company: Tata Motors Limited is an Indian multinational automotive manufacturing company, headquartered in the city of Mumbai, India which is part of Tata Group. The company produces passenger cars, trucks, vans, coaches, buses, luxury cars, sports cars, construction equipment. Formerly known as Tata Engineering and Locomotive Company, the company was founded in 1945 as a manufacturer of locomotives. The company manufactured its first commercial vehicle in 1954 in a collaboration with Daimler-Benz AG, which ended in 1969. Tata Motors entered the passenger vehicle market in 1988 with the launch of the TataMobile followed by the Tata Sierra in 1991, becoming the first Indian manufacturer to achieve the capability of developing a competitive indigenous automobile. In 1998, Tata launched the first fully indigenous Indian passenger car, the Indica, and in 2008 launched the Tata Nano, the world’s affordable car. Tata Motors acquired the South Korean truck manufacturer Daewoo Commercial Vehicles Company in 2004 and purchased Jaguar Land Rover from Ford in 2008.

News in TATAMOTORS: Shares of Tata Motors on Wednesday jumped over 20 per cent after the company said it will raise USD 1 billion ( ₹7,500 crore) in its passenger electric vehicle (EV) business from TPG Rise Climate at a valuation of up to USD 9.1 billion. The fund will be used to partly fund investment of USD 2 billion (over ₹16,000 crore) in the next five years by a new subsidiary of the company for expanding its EV business, including launching of 10 EV models.

Monthly Chart of TATAMOTORS:

Technical Outlook of TATAMOTORS:

TATAMOTORS (TAMO) share prices rallied +20.45% on Wednesday’s 13th Oct 2021 trade. Stock gained 86.05 per share in a single trading session. Rally was mainly due to fund raising news.

Looking at the monthly chart of TATAMOTORS we expect the stock to cross all time highs of 605.9 in a short span of time. When Fibonacci Retrenchment is plotted on the previous trend of TATAMOTORS from peak of 598.40 in September 2016 to March 2020 low of 63.50 we observed that stock managed to cross 0.786% Fibonacci retrenchment level at 483.95. Now in the near term 483.95 would act as a strong support zone for the stock.

Those traders and investors holding stock as per our previous recommendation should once book partial profit in the stock. We recommend a fresh entry in the stock on correction around 483-490 level for the targets of 598 & 605 in the next 2-3 months time frame.

EquityPandit already forecasted the rally in TATAMOTORS on 7th Oct 2021 blog post which you can Read here. We mentioned Targets of 480+ and today on 13th Oct 2021 TATAMOTORS stock achieved our targets.

Get Daily Prediction & Stocks Tips On Your Mobile


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More