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Tata Motors has been trending to new highs almost each month last year, but now it seems that technical parameters are stretched. Today, we have got a spinning candle and the price is showing a negative divergence with RSI.
The stock hit a fresh record high of Rs 1,468 on February 19, 2024, but witnessed some profit-taking thereafter. However, the technical setup suggests that as long as the stock trades above 50-DMA, bulls should be able to make a comeback.