LIC, Nykaa, Tata Motors: Are these buzzing stocks bottoming out?

Sun Pharmaceutical seems set to register a new 52-week high; while Tata Motors and Torrent Pharmaceuticals are yet to take-off their respective obstacles, charts show.

Shares of Tata Motors, Fsn E-Commerce Ventures and Torrent Pharmaceuticals were buzzing in trades on Thursday, surging over 3 per cent each. Meanwhile, the benchmark indices also bounced back tracking gains in the global markets.

Sun Pharmaceutical Industries was seen trading within 2 per cent of its 52-week high. Whereas, shares of Life Insurance Corporation of India (LIC) too were in limelight, as the stock was seen snapping its nine-day losing streak in intraday trades.

Here's how these stocks look on charts:

Tata Motors Ltd (TATAMOTORS) 

Outlook: 100-DMA looks as a support 

As long as the stock honours the support at the 100-weekly moving average (WMA) at Rs 371, shares of Tata Motors can rally and break the resistance at Rs 500-mark, indicates the weekly chart. Technical indicators like, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have weakened recently in the decline of stock price and if the 100-WMA support gets negated, the bulls could lose the grip severely.  CLICK HERE FOR THE CHART

Torrent Pharmaceuticals Ltd (TORNTPHARM)

Outlook: Breakout over Rs 1,450 could see 25% surge

Shares of Torrent Pharmaceuticals seem to be struggling to overcome the barrier of Rs 1,600-level since last December. As and when the stock leaps over the resistance, the breakout rally could witness a move towards Rs 2,000-mark in a short span of time. On the downside, as long as the stock is underpinned with Rs 1,450 mark, the upside sentiment seems shall remain intact. CLICK HERE FOR THE CHART

Fsn E-Commerce Ventures Ltd (NYKAA)

Outlook: Positive trend kicks-off over Rs 1,400

Even as the benchmark indices hit fresh 52-week lows in June 2022, Nykaa managed to held ground around its all-time low of Rs 1,207.50 hit in May 2022. This exhibits a strength that needs to build ground on conquering subsequent hurdles, which the stock so far has failed. At present, Nykaa has pulled-back after nearing the oversold territory on the Relative Strength Index (RSI) and if this momentum succeeds to overtake Rs 1,400 mark, the counter could kick-off a new trend. CLICK HERE FOR THE CHART

Sun Pharmaceutical Industries Ltd (SUNPHARMA) 

Likely target: Rs 1,100

Upside potential:  15%

The 45 degree rise in the stock of Sun Pharmaceutical Industries since April 2020 continues to witness accumulation on every healthy decline, reveals the weekly chart. The stock is currently 2 percentage away from its 52-week peak. The trend is robust and aims at higher levels of Rs 1,100. The immediate support for the stock exists at Rs 846, its 50-WMA and unless this average is not taken off aggressively, the positive bias is here to stay. CLICK HERE FOR THE CHART

Life Insurance Corporation of India (LIC)

Outlook: Stock in deep oversold territory

Shares of Life Insurance Corporation of India debuted in mid-May 2022 and have since been on a downward spiral. The stock has tumbled 28 per cent from its listing day price and shed as much as 33 per cent from its IPO issue price. The present chart structure appears bearish and at the same time oversold. There are no more signals that would direct the stock to lose ground further. But to show an undeniable reversal, the price action at least needs to show sustainability. CLICK HERE FOR THE CHART