Topic Statement:

Tata Motors, heavily beaten down and still oversold, is clinging to crucial support that could define its next move.

Key Points:

• The stock has repeatedly taken support at the 61.8% Fibonacci retracement level, where it currently trades even today
• Price is hovering just above the 180-day EMA, suggesting a delicate balance between support and further downside risk
• A move up is possible from this oversold level, but if support breaks, the price could slide further toward the 400 zone

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Disclaimer

This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.