Tata Motors - Bounces Back

Tata Motors has just started to look positive on the charts. Having tested the key 50% decline line, the stock has since bounced back 3% to give some cheer to the shareholders.

• Volumes are not one would call encouraging. A possible reason for the same could be that the rise has just started and investors are having a wait and watch on the stock
• MACD is yet to give a 'buy' signal on the stock, and RSI is trading at a very cheap level, indicating some level of value buying availability on the stock
  
• The stock has a critical resistance level again at 67% coming in the next few days.

Overall, would wait for the stock to break Rs. 850 and also probably 865-870 levels to enter into this stock. Currently, this stock has not had strong volumes, as indicated in the Accumulation Distribution chart. So wait and watch would be the call.