Tata Motors' stock fell over 4%, slipping below ₹1,000 to ₹990, marking its ninth consecutive session of decline.
The stock has lost 11.21% since August 29, 2024, but remains up 70.28% from its 52-week low of ₹608.45.
Despite the correction, the relative strength index (RSI) stands at 41.4, indicating the stock is not in the oversold zone.
Analysts suggest key support around ₹1,040, with potential resistance in the ₹1,120–₹1,200 range.
Stock remains bullish long-term, with short-term weakness near support levels.
A breach of ₹1,000 may disrupt sentiment, but a rise above ₹1,080-₹1,100 could signal recovery.
A double bottom pattern suggests possible support at ₹1,000-₹1,020, with upside potential toward ₹1,100–₹1,130.