Technical Analysis of Tata Motors (Monthly Chart)
From the provided chart, here are key observations:
1. Strong Demand Zone (Best Buying Zone)
The green highlighted area (around ₹580–₹680) represents a strong support zone where the price has historically reversed.
The price has retested this zone and is showing signs of buying interest, as seen by the bounce.
2. Potential Reversal with Volume Confirmation
The latest monthly candle has a long wick, indicating buyers are stepping in.
Volume has increased, suggesting strong accumulation in this zone.
3. Resistance Levels to Watch
First Target: ₹870–₹880 (Marked in Blue) – This is the nearest resistance level.
Breakout Above ₹880: Can push the price toward ₹1,000+ in the long term.
4. Risk Management & Stop-Loss
A stop-loss can be placed below ₹580 to minimize risk.
If the price breaks this level with high volume, further downside could be expected.
Conclusion – Long-Term Buying Opportunity
This monthly chart suggests a strong buying opportunity around ₹580–₹680.
If the price holds, a bullish trend continuation is likely toward ₹870+ in the coming months.
Would you like a detailed entry-exit strategy based on Fibonacci, Moving Averages, or other indicators?