Tata Motors Witnesses Over 5% Surge in Share Price, Achieves New 52-Week High

On Tuesday, January 30, Tata Motors experienced a significant surge in its share price, soaring over 5% and reaching a fresh 52-week high of ₹886.30 during intraday trading on the BSE. This development briefly propelled the stock ahead of Maruti Suzuki, establishing itself as India’s most valuable automobile company based on market capitalization (m-cap).

However, as the day progressed, the stock moderated and was trading 2.78% higher at ₹864.20 on the BSE around 2:50 pm.

Tata Motors has been consistently on an upward trajectory in recent times. Looking at a monthly perspective, the stock has shown positive momentum since November, recording a gain of over 12% in that month, almost 11% in December, and an additional 11% in January thus far.

Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, cautioned that the stock appears to be extremely overbought on a monthly scale at the present juncture. Patel highlighted the need for caution as there are multiple Fibonacci ratio clusters near the ₹900–950 zone, which could pose a significant resistance.

Patel advised, “One should opt for profit booking in the mentioned zone and avoid fresh longs.”

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​
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