Tata Motors Stock Plummets: 36% Drop in Five Months

Tata Motors' stock price has experienced a significant 35.6% decline from its all-time high of Rs 1,179 on July 30, 2024, erasing over one-third of its value in under five months and approaching its crucial monthly super trend line support.

Despite this sharp fall, the stock still shows a 6.6% year-to-date gain for 2024, contrasting with the NSE Nifty 50 index's 13.7% increase during the same period; technically, the stock's outlook remains bearish below Rs 940, with near-term resistance at Rs 836 and support levels at Rs 759, Rs 734, and Rs 700.

While the Rs 734-759 support zone offers potential for recovery, a breach could trigger further decline towards the 200-WMA at Rs 580, with interim support anticipated around Rs 700;  the stock's trajectory hinges on whether it can maintain its position above this key support zone.