1 A confluence of support by 200 weekly exponential moving average + support trendline + 5% of Fibonacci & lowering rsi 2 The area near 50% of Fibonacci is also previous double top important resistance zone 3 Based on Elliot wave corrective concept wave 4 don't goes below of wave 2 under retracement of 3 wave pattern 4 Looks like good accumulation zone to me for swing trade
Other Key Points :
Company has reduced debt. Company has delivered good profit growth of 93.1% CAGR over last 5 years Promoter holding has decreased over last 3 years: -3.83%
Tata motors currently has operations in India, the UK, South Korea, South Africa, China, Brazil, Austria and Slovakia through a strong global network of subsidiaries, associate companies and Joint Ventures (JVs), including Jaguar Land Rover in the UK and Tata Daewoo in South Korea
Key Values
PE Ratio 7.65 ROCE 20 % ROE 49 % OPM 11% Sales Growth (Q-O-Q) 2.71% EPS 14.81 (quarterly standalone basis) FII 18.66 % DII 16.85 % Public 21.91 % Promoter 42.58 %
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