Tata Steel Stock Analysis: Daily Performance, Market Trends, and Future Prospects
Contents
- 1 Tata Steel stock analysis 2024
- 1.1 Tata Steel Stock Analysis: Daily Performance, Market Trends, and Future Prospects
- 1.1.1 Daily Performance and Market Capitalization
- 1.1.2 Performance of Industry Peers
- 1.1.3 Consensus Analyst Ratings
- 1.1.4 Trading Volume Analysis
- 1.1.5 Futures Trading Analysis
- 1.1.6 Key Support and Resistance Levels
- 1.1.7 Conclusion
- 1.1.8 FAQs:
- 1.1.8.1 Q1: What was Tata Steel’s closing price on July 29, 2024?
- 1.1.8.2 Q2: How has Tata Steel’s stock performed over the past year?
- 1.1.8.3 Q3: What are the key support and resistance levels for Tata Steel?
- 1.1.8.4 Q4: How did Tata Steel’s peers perform today?
- 1.1.8.5 Q5: What is the current analyst rating for Tata Steel?
- 1.1.8.6 Q6: What is the forecast for Tata Steel’s stock price?
- 1.2 Tata Steel stock analysis 2024
- 1.3 Ola Electric IPO’s Anchor Book Expected on August 1; Public Issue Likely from August 2-6
- 1.1 Tata Steel Stock Analysis: Daily Performance, Market Trends, and Future Prospects
Tata Steel stock analysis 2024
Tata Steel Stock Analysis: Daily Performance, Market Trends, and Future Prospects
On July 29, 2024, Tata Steel’s stock price increased by 0.18%, closing at ₹162.6 per share. The stock is currently trading at ₹162.9 per share. Investors should monitor the stock price closely in the coming days to see how it reacts to market conditions and news.
Daily Performance and Market Capitalization
Today, Tata Steel’s stock price rose by 0.74% to reach ₹163.8. The stock opened at ₹158.45 and closed at ₹157.45 on the last trading day. The daily high was ₹162.9, and the low was ₹158.2. Tata Steel’s market capitalization is ₹202,792.24 crore. The 52-week high for the stock is ₹184.6, while the 52-week low is ₹114.25. The BSE volume for the day was 4,109,598 shares traded.
Performance of Industry Peers
Tata Steel’s Competitors
Today, Tata Steel’s stock price showed positive movement, while its industry counterparts had mixed results. The performance of Tata Steel’s competitors is as follows:
| Name | Latest Price | Change | % Change | 52W High | 52W Low | Mkt. Cap (cr) |
|---|---|---|---|---|---|---|
| JSW Steel | ₹903.65 | 3.2 | 0.36 | ₹958.95 | ₹723.15 | ₹220,174.53 |
| Jindal Steel & Power | ₹971.05 | -1.2 | -0.12 | ₹1097.1 | ₹581.9 | ₹99,055.65 |
| Jindal Stainless | ₹746.8 | -17.25 | -2.26 | ₹848.0 | ₹358.0 | ₹61,494.1 |
| Steel Authority of India | ₹149.25 | 1.8 | 1.22 | ₹175.65 | ₹81.85 | ₹61,648.09 |
Consensus Analyst Ratings
Analysts currently have a “Hold” rating on Tata Steel. The median price target is ₹162.0, which is 1.07% lower than the current market price. The lowest target price is ₹130.0, while the highest target price is ₹210.0. These target prices are for the next year.
Analyst Ratings Over Time
| Ratings | Current | 1 Week Ago | 1 Month Ago | 3 Months Ago |
|---|---|---|---|---|
| Strong Buy | 5 | 5 | 5 | 6 |
| Buy | 9 | 8 | 8 | 9 |
| Hold | 8 | 8 | 8 | 6 |
| Sell | 3 | 3 | 3 | 2 |
| Strong Sell | 3 | 3 | 3 | 4 |
Trading Volume Analysis
As of 10 AM today, the volume of Tata Steel traded was 6.97% lower than yesterday. The current trading volume is a crucial indicator for analyzing trends. A positive price trend with high volume indicates a sustainable upward movement, while a negative price trend with high volume could suggest a potential further decline in prices.
Hourly Price Movement
In the previous trading hour, Tata Steel touched a high of ₹163.9 and a low of ₹162.6. The key support and resistance levels to watch out for in the next hour are:
| Resistance Levels | Price | Support Levels | Price |
|---|---|---|---|
| Resistance 1 | ₹164.23 | Support 1 | ₹162.93 |
| Resistance 2 | ₹164.72 | Support 2 | ₹162.12 |
| Resistance 3 | ₹165.53 | Support 3 | ₹161.63 |
Futures Trading Analysis
Futures trading for Tata Steel is currently higher by 0.11%, with open interest increased by 0.07%. This suggests a potential for positive price movement in the near future, indicating that traders may consider maintaining their long positions.
Key Support and Resistance Levels
The key support and resistance levels for Tata Steel on a daily timeframe are derived from the classic pivot table:
| Resistance Levels | Price | Support Levels | Price |
|---|---|---|---|
| Resistance 1 | ₹164.25 | Support 1 | ₹159.51 |
| Resistance 2 | ₹165.97 | Support 2 | ₹156.49 |
| Resistance 3 | ₹168.99 | Support 3 | ₹154.77 |
Conclusion
Tata Steel’s stock price has shown a modest increase, closing at ₹162.9 per share, reflecting a 0.18% gain from the previous day. Despite the mixed performance of its industry peers, Tata Steel remains a significant player in the market with a robust market capitalization of ₹202,792.24 crore. Analysts currently have a “Hold” rating on the stock, with a median price target of ₹162.0, slightly below the current market price. Tata Steel stock analysis 2024. Investors should closely monitor the key support and resistance levels and keep an eye on trading volumes to make informed investment decisions. The stock’s future movements will likely be influenced by market conditions, industry trends, and overall economic factors.
FAQs:
Q1: What was Tata Steel’s closing price on July 29, 2024?
A: Tata Steel’s closing price on July 29, 2024, was ₹162.6 per share.
Q2: How has Tata Steel’s stock performed over the past year?
A: Over the past year, Tata Steel’s stock has gained 35.68%.
Q3: What are the key support and resistance levels for Tata Steel?
A: Key support levels are ₹159.51 and ₹156.49, while key resistance levels are ₹164.25 and ₹165.97.
Q4: How did Tata Steel’s peers perform today?
A: JSW Steel increased by 0.36%, Jindal Steel & Power decreased by 0.12%, Jindal Stainless decreased by 2.26%, and Steel Authority of India increased by 1.22%.
Q5: What is the current analyst rating for Tata Steel?
A: The current analyst rating for Tata Steel is “Hold.”
Q6: What is the forecast for Tata Steel’s stock price?
A: The median price target for Tata Steel is ₹162.0, with the lowest estimate at ₹130.0 and the highest at ₹210.0.
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