The stock advanced to ₹39.89 on the BSE as trading volumes multiplied more than 2.79 times amid festive trading. While technical gauges like the RSI crossing 60 reflect strong near-term buying interest, major hurdles loom overhead. Analyst Virat Jagad of Bonanza highlighted that the 100 and 200 EMAs present formidable resistance between ₹38 and ₹42. Consequently, a sustained breakout above ₹40 to ₹42 is considered essential before entering new positions, especially given the company's negative performance over the past two years.
Key points
Technical indicators show the stock has climbed above its 20 and 50 EMAs with RSI crossin…: Technical indicators show the stock has climbed above its 20 and 50 EMAs with RSI crossing above 60.
Analysts recommend waiting for a confirmed breakout above the ₹40 to ₹42 resistance band…: Analysts recommend waiting for a confirmed breakout above the ₹40 to ₹42 resistance band before chasing the rally.
Despite gaining 16.94% over the past month, the scrip remains down 26.88% over the traili…: Despite gaining 16.94% over the past month, the scrip remains down 26.88% over the trailing one-year period.
Sources checked by our analysis pipeline: 1
Tata Group stock rally: Shares of Tata Teleservices (Maharashtra) Limited rallied nearly 13% during Friday’s trading session on Dhanteras. The sharp rally in the Tata Group stock came as overall sentiment in the market remained positive.
The Tata Group stock rally came on Friday after the stock saw a sharp surge in trading volumes during the intraday trading session.
Tata Group stock rally on spurt in volume
Tata Teleservices (Maharashtra) Limited surged nearly 13% to its intraday high levels during Friday’s trading session. The telecom stock saw a steep surge in trading volumes by more than 2.79 times. The massive jump in Tata Group stocks.
Tata Teleservices Maharashtra technical targets
Tata Teleservices shares are showing sharp recovery with a strong bullish candle backed by significant volume. The strong uptick is indicating at fresh buying interest.
“The stock has moved above its 20 and 50 EMAs, while RSI has improved above 60, supporting positive momentum. However, the 100 and 200 EMAs remain major hurdles near ₹38-42. A sustained breakout above ₹40-42 could strengthen the reversal; avoid chasing until this resistance zone…
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