Tata Technologies Ltd (NSE: TATATECH): Tata Group’s huge firm Tata Technologies has registered a drop of 20 percent from its peak levels. However, there are signs of shares falling.
Experts advise that traders in the short term with risky profiles should buy the stock with a price target of greater than 1,200 rupees in the coming months.
Tata Technology hit its high at 1,400 rupees on November 30, last year, however it did not maintain this level for long. The stock closed at a level of 1,081.50 rupees, an increase of 23 percent.
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Made A Comeback After The Decline
After the recent drop, Tata Technologies share made an appearance after testing the 40-DMA in August. However, it failed to get above Rs 1,100.
In the meantime, after a month, it found support above Rs 1,000 and then bounced back. On the 6th of September, the stock had formed an upward-facing pattern on its daily charts.
It hit the high of swing trading of Rs 1,115 on August 28th, 2024. The stock reached an intraday high of Rs 1,122.
Expert Advised To Buy
An expert is advising investors to purchase this stock for a target value of around Rs 1,250 and a stop loss of Rs 1,040.
The chart is appealing and has plenty of upside potential, therefore they suggest that traders purchase the stock for Rs 1,250 and the stop loss of Rs 1,040.
The Stock Is Trading In The Red On Monday
On Monday, Tata Technologies share began trading at the price of Rs 1,115, and after that, it was trading at a value of Rs 1,088.85 after a drop of 2.14 percent from its closing.
The stock has risen by about 10 percent during the past month. However, it has also experienced the biggest decrease of 17 percent in one year.
Quick Fact
| Company name | Tata Technologies |
|---|---|
| Recent drop | 20% |
| Peak price | ₹1,400 |
| Current price | ₹1,081.50 |
| Recent rise | 23% |
| 40-DMA tested | August 2024 |
| Recent support | Above ₹1,000 |
| Swing trading high | ₹1,115 (August 28, 2024) |
| Intraday high | ₹1,122 |
| Expert advice | Buy with stop loss ₹1,040 |
| Possible target price | ₹1,250 |
| Price movement | -2.14% (Monday) |
| 1-month change | +10% |
| 1-year decrease | -17% |
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