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Tata Motors October 2024 Sales Analysis: Resilience Amid Intense Competition

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Written By: Lilly Mwogah
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    Summary:
  • Tata Motors October 2024 sales hold steady at 82,682 units amid fierce competition. Discover key stock support and resistance levels.

Tata Motors recorded sales of 82,682 vehicles in October 2024, which closely matched the 82,954 units sold in October 2023. Tata’s ability to maintain stability in a competitive market showcases its resilience, but it also prompts questions about its growth strategy, particularly with rivals such as Mahindra gaining a larger market share in the SUV segment through a significant 25% sales increase.

Technical Analysis: Key Levels for Tata Motors Stock

  • Immediate Support: INR 834 (current price level).
  • Next Support Level: INR 788.75, if the stock fails to hold above INR 834.
  • Resistance Levels:
    • INR 856.60 – First resistance level
    • INR 894.24 – 20-day EMA resistance
    • INR 945.97 – 50-day EMA resistance
  • Trend Outlook: The stock is in a downtrend, and a break below INR 834 could trigger further declines, while a bounce at this level might indicate potential upside.
Tata Motors Daily Chart Analysis

Outlook

Tata Motors’ steady sales and strong market presence keep it relevant, but the stock’s current technical position requires close monitoring. Investors should keep an eye on Tata’s approach to competing in the growing SUV market, as well as any strategic moves to innovate and capture market share.

This post was last modified on Nov 01, 2024, 11:30 GMT 11:30

Written By: Lilly Mwogah

Lilly Mwogah is a finance writer specializing in cryptocurrencies, forex, and indices. Passionate about simplifying complex financial topics, she creates engaging content for a broad audience. With a solid grasp of market trends and economic indicators, her work informs and empowers readers to navigate the dynamic finance world.

Published by
Written By: Lilly Mwogah