Tata Motors, Tata Elxsi, Tata Consumer: Strategies for Tata group stocks

Among the pack, Tata Motors seems to be a slow mover, as the stock may see an upside of 8 per cent on crossing the major hurdles.

Shares of Tata Group were in limelight today, mainly Tata Coffee and Tata Consumer Products, after the two companies announced business reorganisation plans. The former soared up to 13 per cent, while the latter rallied 5 per cent. READ MORE

Among others, Tata Motors and Tata Elxsi were up around 1.5 per cent each; Indian Hotels (IHCL) gained a per cent, while Tata Consultancy Services (TCS) and Tata Power were marginally in green territory.

Since the start of the year 2022, Tata Elxsi has zoomed 50 per cent and Indian Hotels surged 35 per cent so far.

Going ahead, here’s what the charts indicate for Tata Group stocks:

 
Tata Coffee Limited (TATACOFFEE)
Likely target: Rs 254.40
Upside potential: 16% 

With a strong gap-up move on Wednesday, the shares of Tata Coffee conquered the 200-day moving average (DMA) with robust volumes. The 200-DMA is placed at Rs 205.70 level. The daily chart structure depicts a breakout that could cross the all-time high of Rs  254.40. The Moving Average Convergence Divergence (MACD) is inching towards zero line, when it manages to cross, it would offer a strong upward momentum. CLICK HERE FOR THE CHART

Tata Motors Ltd (TATAMOTORS)
Likely target: Rs 470
Upside potential:  8%

Shares of Tata Motors succeeded in sustaining above the 200-DMA support, placed at Rs 410 level. This means that the stock should move towards the next hurdle of Rs 470, its breakdown mark in the recent correction. The immediate support for the stock exists at Rs 420 level, shows the daily chart. Once the stock manages to cross Rs 448, one might see a sharp rally thereafter. CLICK HERE FOR THE CHART

Tata Consumer Products Ltd (TATACONSUM)
Likely target: Rs 850
Upside potential: 10%

The stock overcame the obstacle of Rs 777 with heavy volume, shows the daily chart. A breakout that could instil an upside towards Rs 850 level. The closing basis support for the stock falls at Rs 740 level. The Relative Strength Index (RSI) has formed a positive crossover and trades at 63 values, still far from the overbought zone. CLICK HERE FOR THE CHART

Indian Hotels Co. Ltd (INDHOTEL)
Likely target: Rs 280
Upside potential: 15%

The stock managed to defend the selling pressure emerging in the range of Rs 230 to Rs 220 levels, shows the weekly chart. In future, sustainability above this range would instil further upside from a medium-term scale. The stock seems headed in the direction of Rs 280 level. The broader chart structure suggests a firm bull run for the stock. CLICK HERE FOR THE CHART

 
Tata Elxsi Ltd (TATAELXSI)
Likely target: Rs 10,000
Upside potential: 15%

Tata Elxsi has soared over 50 per cent so far in this year. The structure on the daily and weekly charts indicates a bullish scenario for the upcoming sessions. From the medium-term prespective, as long as the stock defends the support of Rs 8,000 level, the rally could see the stock test the Rs 10,000-mark. CLICK HERE FOR THE CHART