Tata Motors, TCS, TMPV, Tata Elxsi: Support and resistance levels for Tata group stocks

Tata Sons Chairman N Chandrasekaran's decision not to seek reappointment ahead of the August 18 Annual General Meeting (AGM) sent Tata group stocks lower in Wednesday's trade. A broader market sell-off added to the pressure, with stocks such as Tata Consultancy Services Ltd (TCS), Tata Motors Passenger Vehicles Ltd (TMPV) and Tata Elxsi Ltd among those witnessing declines.

Mayank Jain, market analyst at Share.Market (PhonePe), came out with a note on key support and resistance levels for a handful of Tata group stocks. This is what he said on TCS,  Tata Motors, TMPV and Tata Elxsi:-

TCS short-term outlook
On TCS, Jain said the daily chart showed the stock in a prolonged secondary downtrend after a primary distribution phase from peaks above Rs 4,400. The stock was attempting to build a short-term base near the Rs 2,000-2,300 structural support zone, he said, adding that near-term stability would depend on holding above these multi-month swing lows.

On the upside, Jain identified the Rs 2,670-2,700 region as the main dynamic resistance zone, where the 200-day simple moving average currently aligned. A sustained daily close above the Rs 3,000-3,180 horizontal resistance confluence would be needed to signal a structural trend reversal, he added.

Tata Motors short-term outlook
For Tata Motors, Jain said the stock reflected a short-term recovery pattern within a broader consolidation phase after pulling back from its Rs 500-520 cycle highs. The daily chart showed a higher-low structure from the Rs 360 bottoming base, with immediate support at the Rs 400-410 moving average confluence of the 20-day and 50-day simple moving averages.

Holding this zone would be important for the continuation of short-term momentum, while resistance remained near the Rs 500-520 overhead supply area, where earlier rally attempts had faced selling pressure, Jain said.

TMPV short-term outlook
On Tata Motors Passenger Vehicles Ltd, Jain said the daily technical setup showed the stock remained in an extended primary downtrend after breaking down from major historical highs near Rs 710. The stock continued to trade below key moving averages and was testing the Rs 320-335 immediate support floor.

A break below Rs 320 would indicate a continuation of lower-low price discovery, Jain said. On the upside, resistance remained heavy, with the downward-sloping 200-day simple moving average near Rs 357 acting as dynamic resistance, followed by structural hurdles in the Rs 390-400 region.

Tata Elxsi short-term outlook
For Tata Elxsi, Jain said the stock remained in a broader correction from historical highs above Rs 10,700, marked by a series of lower highs and lower lows. The stock had formed a low near the Rs 3,400-3,500 short-term demand zone on the daily chart, staged a minor rally and closed above its 20-day simple moving average.

However, the stock would first need to cross the immediate resistance near the 50-day simple moving average at Rs 3,820 for short-term relief, while the 200-day simple moving average near Rs 4,600 remained the dominant long-term resistance level, he said.

The sharp fall in Tata group stocks came amid a broader market sell-off and concerns surrounding Chandrasekaran's decision not to seek reappointment. Jain's technical view highlighted the key support and resistance levels for TCS, Tata Motors, TMPV and Tata Elxsi as investors assessed the next move in the stocks.