Stock to watch: Tata Motors bounced from its key support levels

Tata Motors has been extremely impressive on bourses in past one year , with the shares of Tata Motors gaining by ~170 per cent

Tata Motors share price was seen taking support at crucial levels in the past past week. The stock of Tata Motors is down by ~17 per cent from its 52 week high. The downtrend in the share price of Tata Motors have led to concerns on the prospects of Tata Motors. Tata Motors has been extremely impressive on bourses in past one year , with the shares of Tata Motors gaining by ~170 per cent. Tata Motors is up by 57.8 per cent in 2021 alone, this is despite of the sharp correction in the stock prices seen recently. 

The auto sales figures have been released and the numbers for Tata Motors passer vehicles segments are more than impressive. The growth in auto sales is decent and it may have a positive rub off effect on the stock price this week. Experts believe that Tata Motors moves in the EV segment are significant and may lead to capturing higher market share. For those who track technical charts of Tata Motors, the stock price bounced from its important support levels of Rs 282 odd per share. In near term Tata Motors may face some resitance at Rs 300 to Rs 302 per share. Traders and Investors thus have to watch closely the levels of Rs 300 for Tata Motors in short terms even though the prospects remain bright for the stock in long term if we go by what the analyst community has to say about the stock.