![]() ![]() The market has already factored in these positive developments, leading to a significant rally in the stock price. Moreover, there is great excitement among investors as the company is expected to share the details of its GBP 15 bn capex plan for EVs in the Q4FY23 result conference call. Additionally, a decline in input costs is likely to further boost the company's profitability. ![]() ![]() The company has reported better-than-expected sales volume growth in its JLR, CV, and PV segments and thanks to price hikes implemented in Q3FY23, the company is anticipated to report strong revenue growth. Vinit Bolinjkar, Head of Research, Ventura Securities said, “Tata Motors will announce its Q4FY23 results on and investors are eagerly anticipating a strong performance with significant revenue growth and profitability. While on the higher end, sustenance above the Rs 500-510 zone could only trigger the next leg of rally towards the 52-week high zone.” As far as levels are concerned, the immediate support lies around Rs 480, followed by sacrosanct support of the Rs 465 zone. The overall structure remains buoyant with a buy-on decline approach. However, on technical parameters, post the recent rally, the counter has entered an overbought region that indicates the possibility of some cool-off in the near period. The stock has also breached the previous swing high, adding to a bullish quotient. Analyst - Technical & Derivative Research, Angel One said, “Tata Motors has seen a massive spurt in price-volume and surged to test the 500 mark in today’s session. A closing above Rs 515 will take the stock to Rs 550–600 levels, with Rs 450 level acting as strong support for the longer term.” After a good rally, there is small resistance near 515 levels. Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher said, “The stock is in a good up move and given a breakout above Rs 450 with a symmetrical triangle breakout on the daily chart, and is now trading at the 52-week high. ![]()
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