Tata Motors is trading near its 52-week low, closing at 620.65 after a sharp decline of 27.90 points (-4.30%). The stock remains under continuous selling pressure, with increasing volumes confirming bearish sentiment.
Fibonacci retracement levels indicate key support at 627.75 (38.2%), 574.35 (50%), and 520.90 (61.8%), with a breakdown below these levels signalling further downside risk.
RSI is in the oversold region, indicating weakness, with no strong signs of a reversal yet. Any potential pullback could face selling pressure at higher levels, reinforcing the bearish trend. Given the current structure, fresh buying should be avoided.
A decisive break below 627 may lead to further downside acceleration, making the stock vulnerable to deeper corrections.
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