“ANALYZING STOCK MARKET PERFORMANCE OF

TATA MOTORS”
A
SUMMER INTERNSHIP PROJECT REPORT
SUBMITTED IN THE PARTIAL FULFILMENT
OF THE REQUIREMENTS OF
ARKA JAIN UNIVERSITY

For the award of the degree of

BACHELOR OF COMMERCE (HONORS)
For the session 2021-2024

Submitted By
Name: ANKIT DUBEY
University Enrollment Number: AJU/210463

Faculty Mentor
Name: Prof. RAJAN KUMAR
Designation: ASSISTANT PROFESSOR

School of Commerce and Management,

ARKA JAIN UNIVERSITY
 DECLARATION BY THE STUDENT

I, ANKIT DUBEY, hereby declare the project titled “ANALYZING STOCK

MARKET PERFORMANCE OF TATA MOTORS”, has been carried
out by me during my ‘SUMMER INTERNSHIP PROJECT REPORT’ and is
hereby submitted in the partial fulfilment of the requirement of ARKA JAIN
UNIVERSITY for the award of the degree of Bachelor of Commerce.

To the best of my knowledge, the project undertaken, has been carried out by me
and is my original work. The contents of this report are authentic and this report
has been submitted to ARKA JAIN UNIVERSITY and it has not been submitted
elsewhere for the award of any Certificate/ Degree/ Diploma etc.

Signature of the Student

Name of the Student: ANKIT DUBEY
University Enrollment No.: AJU/210463
B.COM (H) (2021- 2024)
 CERTIFICATE OF APPROVAL

This SUMMER INTERNSHIP PROJECT REPORT of “ANKIT DUBEY” titled

“ANALYZING STOCK MARKET PERFORMANCE OF TATA MOTORS”
is approved in quality and form and has been found to be fit for the Partial
Fulfilment of the requirements of ARKA JAIN UNIVERSITY for the award of
the degree of Bachelor of Commerce.

Approval of the Program Coordinator Approval of the Assistant

Dean (UG)
Department of B.Com (H) School of Commerce and
Management
School of Commerce and Management ARKA JAIN UNIVERSITY
ARKA JAIN UNIVERSITY

APPROVAL OF THE EXAMINER

 CERTIFICATE FROM THE FACULTY MENTOR

This is to certify that ANKIT DUBEY, of ARKA JAIN UNIVERSITY,

AJU/210463, a student of B.Com (H) (2021-2024), has undertaken “SUMMER
INTERNSHIP PROJECT REPORT” Title “ANALYZING STOCK
MARKET PERFORMANCE OF TATA MOTORS” for the partial fulfilment
of the requirement of ARKA JAIN UNIVERSITY for the award of the degree of
Bachelor of Commerce, under my supervision.

Signature of the Faculty Mentor,

Name of the Faculty Mentor: Prof. RANJAN KUMAR
Designation of the Faculty Mentor: ASSISTANT PROFESSOR
INTERNSHIP CERTIFICATE
VAC CERTIFICATE
 ACKNOWLEDGEMENT

I take this opportunity to thank my faculty mentor Prof. RANJAN KUMAR,

SCHOOL OF COMMERCE AND MANAGEMENT, ARKA JAIN
UNIVERSITY, for his valuable guidance, closely supervising this work over with
helpful suggestions, which helped me to complete the report properly and present.
More importantly, his valuable advice and support helped me to put some creative
efforts on my project. He has really been an inspiration and driving force for me
has constantly enriched my row ideas with his vast experience and knowledge.

Specially, I would also like to give my special thanks to my parents whose blessings
and love enabled me to complete this work properly as well.

Name of the Student: ANKIT DUBEY

University Enrollment No.: AJU/210463
B.Com (2021-2024)
 INDEX

CHAPTER CHAPTER NAME PAGE NO.

NO.
Executive Summary
Chapter 1 Introduction to the Topic 1-6
Chapter 1.1 Latest Development in Stock Market Analysis 7
Chapter 1.2 Industry Profile 8-9
Chapter 1.3 Company Profile 10-11
Chapter 2 Review of Literature 12-14
Chapter 2.1 Research Gap 15
Chapter 3 Project Objectives 15
Chapter 4 Research Methodology 16-21
Chapter 5 Data Analysis and Interpretation of Stock of 22-33
Tata Motors from 1/4/2020 to 31/3/2021
Chapter 6 Findings 34
Chapter 7 Suggestions or Recommendations 35
Chapter 8 Conclusion 36
References 37
Bibliography 38
 EXECUTIVE SUMMARY

The project aims to analyze the stock market performance and candle pattern of Tata
Motors, one of the leading automobile manufacturers in India, for the financial year
2020-21. The project uses secondary data sources, such as reports, publications, and
websites, to collect and analyze data on the share price, volume, and market
capitalization of Tata Motors, as well as the macroeconomic and industry factors that
affect the company’s performance. The project also uses candlestick charts, which are
graphical representations of the opening, closing, high, and low prices of a stock for a
given period, to identify and interpret the bullish and bearish patterns of Tata Motors’
share.
Tata Motors’ share price witnessed a sharp recovery in the second half of the financial
year 2020-21, after a steep decline in the first half due to the impact of the COVID-19
pandemic and the lockdowns on the demand and supply of automobiles. The share
price increased from Rs. 70.45 on 1/4/2020 to Rs. 301.80 on 31/3/2021, registering a
growth of 328.39%.
Tata Motors’ market capitalization also increased significantly from Rs. 20,890.90
crore on 1/4/2020 to Rs. 91,039.90 crore on 31/3/2021, reflecting the improved
investor confidence and valuation of the company.
Tata Motors’ volume, which represents the number of shares traded in a given period,
also showed a positive trend, indicating a high level of liquidity and activity in the
market. The volume increased from 2.79 crore shares on 1/4/2020 to 8.43 crore shares
on 31/3/2021, with an average volume of 4.71 crore shares for the financial year 2020-
21.
Tata Motors’ stock market performance was influenced by various macroeconomic and
industry factors, such as the GDP growth, inflation, exchange rate, interest rate, oil
price, consumer sentiment, automobile demand, competition, innovation, and
regulation. The company also benefited from its strong domestic and international
presence, its diversified product portfolio, its focus on cost reduction and operational
efficiency, and its strategic initiatives, such as the New Forever range, the Nexon EV,
and the Jaguar Land Rover’s Reimagine strategy.
Tata Motors’ candle pattern revealed several bullish and bearish signals, which
indicated the changes in the market sentiment and the direction of the share price
movement. Some of the bullish patterns, such as the hammer, the engulfing, the
piercing, and the morning star, suggested a reversal of the downtrend and a potential
rise in the share price. Some of the bearish patterns, such as the shooting star, the dark
cloud cover, the evening star, and the hanging man, suggested a reversal of the uptrend
and a potential fall in the share price. The candle pattern also showed some
continuation patterns, such as the doji, the spinning top, and the harami, which
indicated a pause or a consolidation in the existing trend.
 STOCK MARKET
The stock market, share market or stock market is a collection of buyers and sellers
of shares (also known as stocks), representing ownership in companies; they can
include securities listed on public exchanges, as well as stocks that are only
privately traded, such as shares of private companies sold to investors through
crowdfunding platforms. Investments are usually made taking into account the
investment strategy.

Size of Market

The total market capitalization of all publicly traded securities worldwide increased
from $2.5 trillion in 1980 to $93.7 trillion at the end of 2020.

As of 2016, there are 60 stock exchanges worldwide. Of these, 16 exchanges have

a market capitalization of $1 trillion or more and account for 87% of the global
market capitalization. In addition to the Australian Stock Exchange, these 16
exchanges are all located in North America, Europe or Asia.

By country, the largest stock markets as of January 2022 were the United States
(about 59.9%), followed by Japan (about 6.2%) and the United Kingdom (about
3.9%).

Stock exchange

A stock trade is a trade (or bourse) where stockbrokers and dealers can purchase
and offer offers (value stock), bonds, and other securities. Numerous huge
companies have their stocks recorded on a stock trade. This makes the stock more
fluid and hence more appealing to numerous speculators. The trade may moreover
act as an underwriter of settlement. These and other stocks may moreover be
exchanged "over the counter" (OTC), that's, through a merchant. A few huge
companies will have their stock recorded on more than one trade in totally different
nations, so as to pull in worldwide speculators.

Stock trades may also cover other sorts of securities, such as fixed-interest
securities (bonds) or (less regularly) subordinates, which are more likely to be
exchanged OTC.

Exchange in stock markets implies the exchange (in trade for cash) of a stock or
security from a dealer to a buyer. This requires these two parties to concur on a
cost. Values (stocks or offers) bestow ownership in a specific company.

Members within the stock advertise range from little-person stock financial
specialists to bigger financial specialists, who can be based anyplace within the
world, and may incorporate banks, protection companies, annuity stores, and fence
reserves. Their purchase or offer orders may be executed on their sake by a stock
trade dealer.

A few trades are physical areas where exchanges are carried out on a exchanging
floor, by a strategy known as open objection. This strategy is utilized in a few stock

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exchanges and commodities trades and includes dealers yelling offered and
offering costs. The other sort of stock trade contains an organization of computers
where exchanges are made electronically. An illustration of such a trade is the
NASDAQ.

A potential buyer bids a particular cost for a stock, and a potential vendor inquires
about a particular cost for the same stock. Buying or offering at the Showcase
implies you may acknowledge any inquired cost or offered cost for the stock. When
the offered and inquired costs coordinate, a deal takes put, on a first-come, first-
served premise in case there are different bidders at a given cost.

The reason for a stock trade is to encourage the trade of securities between buyers
and vendors, in this way giving a commercial center. The trades give real-time
exchange data on the recorded securities, encouraging cost revelation.

The Modern York Stock Trade (NYSE) may be a physical trade, with a cross-breed
advertise for setting orders electronically from any area as well as on the
exchanging floor. Orders executed on the exchanging floor enter by way of
exchange individuals and stream down to a floor broker, who submits the
arrangement electronically to the floor exchanging post for the Assigned showcase
producer ("DMM") for that stock to exchange the arrange. The DMM's work is to
preserve a two-sided showcase, making orders to purchase and offering security
when there are no other buyers or vendors. On the off chance that a bid–asked
spread exists, no exchange quickly takes put – in this case, the DMM may utilize
their claim assets (cash or stock) to shut the distinction. Once an exchange has been
made, the subtle elements are detailed on the "tape" and sent back to the brokerage
firm, which at that point informs the financial specialist who made the arrange.
Computers play a critical part, particularly for program exchange.

The NASDAQ is an electronic trade, where all of the exchange is done over a
computer arrangement. The method is comparable to the Modern York Stock
Trade. One or more NASDAQ advertise producers will continuously give an offer
and inquire the cost at which they will continuously buy or offer 'their' stock.

The Paris Bourse, presently portion of Euronext, is an order-driven, electronic

stock trade. It was robotized within the late 1980s. Earlier to the 1980s, it comprised
of an open objection trade. Stockbrokers met on the exchanging floor of the Palais
Brongniart. In 1986, the CATS trading framework was presented, and the arrange
coordinating framework was fully automated.

Individuals exchanging stock will prefer to exchange on the foremost well known
trade since this gives the largest number of potential counter parties (buyers for a
vender, dealers for a buyer) and likely the most excellent cost. In any case, there
have continuously been choices such as brokers attempting to bring parties together
to exchange exterior the trade. A few third markets that were well known are
Instinet, and afterward Island and Archipelago (the last mentioned two have since
been obtained by Nasdaq and NYSE, individually). One advantage is that this
dodges the commissions of the trade. Be that as it may, it too has issues such as
antagonistic choice. Budgetary controllers have examined dim pools.

2
Stock Market Index

The developments of the costs in worldwide, territorial or nearby markets are

captured in cost records called stock advertise records, of which there are
numerous, e.g. the S&P, the FTSE, the Euronext records and the Clever &
SENSEX of India. Such files are more often than not advertise capitalization
weighted, with the weights reflecting the commitment of the stock to the file. The
constituents of the file are checked on as often as possible to include/exclude stocks
in arrange to reflect the changing commerce environment.

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 STOCK MARKET ANALYSIS

An advertising examination ponders the engaging quality and the flow of an

uncommon showcase inside an uncommon industry. It is the portion of the industry
examination and hence in turn of the worldwide natural investigation. Through all
of these examinations, the qualities, shortcomings, openings, and dangers (SWOT)
of a company can be recognized. At last, with the assistance of a SWOT
examination, satisfactory trade methodologies of a company will be defined. The
advertise examination is additionally known as an archived examination of an
advertisement that's utilized to educate a firm's arranging exercises, especially
around choices of stock, buy, work drive expansion/contraction, office
development, buys of capital gear, limited time exercises, and numerous other
perspectives of a company.

Market segmentation

Market segmentation is the basis for differentiated market analysis. The difference
is important. One of the main causes is consumer saturation, due to the increasing
competition of products on offer. Consumers are demanding more personalized
products and services and are better informed about product lines than before.
Therefore, market segmentation is necessary. Segmentation involves a lot of
market research because a lot of market knowledge is needed to segment a market.
Market research on market structure and processes should be carried out to identify
the “relevant market”. The relevant market is an integral part of the overall market
on which the company focuses its operations. To identify and classify the relevant
market, a classification or segmentation of the market must be carried out.

Dimensions of market analysis

The goal of market analysis is to determine the attractiveness of the market, today
and tomorrow. Organizations assess the future attractiveness of the market by
understanding the evolving opportunities and threats based on their own strengths
and weaknesses. A market analysis study, among other things, the influence of
supply and demand on the market.

Organizations use results to guide the investment decisions they make toward
success. The results of the market analysis can prompt the organization to modify
various aspects of its investment strategy. Areas of concern may include inventory
levels, workforce expansion/reduction, facility expansion, capital equipment
purchases, and promotional activities.

Elements

 Market size

Market size is determined by market size and market potential. Market volume
represents the sum of all sales realized in a particular market and therefore depends
on the number of consumers and their usual needs. Additionally, market volume is
measured either in quantity or quality. The quantity can be specified in technical
terms such as GW of power capacity or in quantities. When measured qualitatively,

4
 sales are typically used as an indicator. This means that market prices and quantities
are taken into account. In addition to market size, market potential is equally
important. Define the upper limit of total demand and consider potential customers.
Although the market potential is highly hypothetical, it provides good guidance.
The ratio of market volume to market potential provides information about market
growth opportunities. Below are some examples of sources for determining market
size.
 Government data
 Data from industry associations
 Financial data of major companies
 Customer survey

 Market Trend
A market trend is the upward or downward movement of a market over a specific
period of time. If you're starting something completely new, it's difficult to estimate
the market size. In this case, you need to derive a number from the number of
potential customers or customer segments.

In addition to information about your target market, you also need information
about your competitors, customers, products, etc. Finally, you need to measure the
effectiveness of your marketing. Some techniques are:

 customer analysis
 selection modeling
 Competitive analysis
 risk analysis
 product research
 Advertisement for research
 Marketing mix modeling
 mock test marketing
Market changes are important because they often represent new opportunities and
sources of risk. Additionally, it can have a dramatic impact on market size.
Examples include changes in economic, social, regulatory, legal, and political
conditions, as well as available technology, price sensitivity, demand for diversity,
and level of focus on services and support.

 Market Opportunity
A market opportunity item or a benefit, based on either one innovation or a few,
fulfills the need(s) of an (ideally expanding) showcase superior to the competition
and way better than substitution technologies inside the given natural outline (e.g.
society, legislative issues, enactment, etc.)

 Applications
The literature defines several areas where market analysis is important. These
include:
Sales forecasts, market research, m arketing strategies. Not all managers need
to perform market analysis. However, for managers using market analysis data, it
is important to know how analysts reach their conclusions and what techniques
they use.

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 LATEST DEVELOPMENT IN STOCK MARKET ANALYSIS

The stock market is a dynamic and complex field that requires constant analysis
and monitoring. There are many sources of information and tools that can help
investors and traders to understand the latest trends, patterns, and opportunities in
the stock market. Here are some latest development in stock market analysis:

 Trendlyne is a platform that offers live stock screeners, analysis, research reports,
stock alerts, visualization tools, and trending business news. It simplifies investing
by providing insights and recommendations based on various parameters such as
fundamentals, technicals, valuation, sentiment, and quality.
 The Economic Times is a leading business newspaper that offers business news,
personal finance, financial news, India stock market investing, economy news,
SENSEX, NIFTY, NSE, BSE live, IPO news, and more. It also provides market
trends analysis based on various factors such as sector performance, market
breadth, volume leaders, price movers, and more.
 Moneycontrol is a website that provides stock market technical analysis,
stock/share trading, BSE/NSE chart analysis, live market map, and more. It helps
investors and traders to identify the best stocks to buy and sell based on technical
indicators such as moving averages, trend lines, support and resistance levels,
candlestick patterns, oscillators, and more.
 Investors.com is a website that provides stock market news and analysis, investing
education, stock picks, and portfolio tools. It also features the Stock Market Today
column that highlights the latest stock market news and alerts you to any changes
in market trend. It also gives you ongoing analysis of the best stocks to buy and
watch based on fundamental and technical criteria.
 Samco is a website that provides online trading and investment services in India. It
also offers latest Indian share market updates and news in Oct 2023 and exclusive
week by week market analysis. It covers share market news, market prediction,
corporate events, and analysis based on various aspects such as earnings, dividends,
IPOs, FII activity, sector outlook, and more.

6
 AUTOMOBILE INDUSTRY

The automobile industry is one of the most important sectors of the global
economy, as it produces and sells motor vehicles for various purposes, such as
transportation, recreation, and mobility. The industry consists of a wide range of
companies and organizations that are involved in different stages of the vehicle
production process, such as design, development, manufacturing, marketing, and
distribution. The industry also includes the suppliers of components and services
that are essential for the operation and maintenance of vehicles, such as engines,
bodies, tires, batteries, fuel, and repair.

The automobile industry started in the late 19th century when the first gasoline-
powered vehicles were invented and patented by Karl Benz and Gottlieb Daimler
in Germany. Since then, the industry has changed and improved a lot, such as the
mass production of affordable cars by Henry Ford in the United States, the
development of new technologies and features, such as electric and hybrid vehicles,
autonomous driving, and connectivity, and the growth of new markets and regions,
such as China, India, and Brazil.

The automobile industry is also one of the most competitive and dynamic industries
in the world, as it faces various challenges and opportunities in the changing
economic, social, environmental, and regulatory contexts. Some of the major
factors that influence the performance and prospects of the industry are:

 Consumer demand and preferences: The demand for vehicles depends on various
factors, such as income levels, population growth, urbanization, mobility needs,
environmental awareness, safety concerns, and lifestyle choices. The preferences
of consumers also vary across different segments and regions, such as luxury vs.
economy cars, sedans vs. SUVs, and gasoline vs. electric vehicles.
 Technology and innovation: The automobile industry is constantly evolving and
improving its products and processes to meet the changing needs and expectations
of consumers and society. Technology and innovation play a key role in enhancing
the quality, efficiency, performance, safety, comfort, and convenience of vehicles.
Some of the current trends and developments in the industry are:
o Electric vehicles (EVs): EVs are vehicles that use electricity as their primary or
sole source of power. EVs have several advantages over conventional vehicles,

7
 such as lower emissions, lower operating costs, higher efficiency, and reduced
dependence on fossil fuels.
o Autonomous vehicles (AVs): AVs are vehicles that can drive themselves without
human intervention or supervision. AVs use various sensors, cameras, radars,
software, and artificial intelligence to perceive their environment and navigate
safely.
o Connectivity: Connectivity refers to the ability of vehicles to communicate with
other vehicles (V2V), infrastructure (V2I), devices (V2D), or networks (V2N)
using wireless technologies. Connectivity enables various features and services for
vehicles, such as navigation, entertainment, diagnostics, security.
 Competition and collaboration: The automobile industry is highly competitive and
fragmented, as it consists of many players that compete for market share and
profitability. The industry also faces competition from new entrants and disruptors
that challenge the established business models and practices. However, the industry
also involves collaboration among various stakeholders that cooperate to achieve
common goals and benefits. For example,
o Suppliers: Suppliers provide components or services to vehicle manufacturers or
consumers. Suppliers can be classified into tiers based on their level of integration
with vehicle production.
o DealersDealers sell or lease new or used vehicles to consumers or businesses.
Dealers can be authorized or independent depending on their relationship with
vehicle manufacturers
o Associations: Associations are organizations that represent the interests of various
groups or segments within the automobile industry. Associations can be national
or international depending on their scope and membership. Some examples of
associations are:
 International Organization of Motor Vehicle Manufacturers (OICA): OICA is an
international association that represents vehicle manufacturers worldwide. OICA
collects and publishes data on vehicle production and sales; promotes
harmonization of technical standards; advocates for sustainable mobility; and
organizes international motor shows.
 Society of Indian Automobile Manufacturers (SIAM): SIAM is a national
association that represents vehicle manufacturers in India. SIAM collects and
publishes data on vehicle production and sales; promotes industrial development;
supports government policies; and organizes events.
 Automotive Component Manufacturers Association of India (ACMA): ACMA is
a national association that represents component manufacturers in India. ACMA
collects and publishes data on component production and exports; promotes quality
improvement; facilitates trade; and organizes exhibitions.

8
 COMPANY PROFILE

Tata Motors is India’s largest automobile company and a leading global

manufacturer of cars, utility vehicles, buses, trucks and defence vehicles. Tata
Motors is part of the Tata Group, a USD 128 billion conglomerate that operates in
various sectors, such as steel, energy, chemicals, hospitality, and
telecommunications. Tata Motors was founded in 1945 as a locomotive
manufacturer and entered the commercial vehicle sector in 1954 after forming a
joint venture with Daimler-Benz of Germany. Tata Motors launched its first
passenger vehicle, the Tata Sierra, in 1991 and has since expanded its portfolio to
include various models and segments. Tata Motors also owns the British luxury car
brand Jaguar Land Rover and the South Korean commercial vehicle maker Tata
Daewoo.

Tata Motors has a vision to become the most aspirational Indian auto brand by
delivering superior financial returns, driving sustainable mobility solutions,
exceeding customer expectations, and creating a highly engaged workforce. Tata
Motors has a mission to innovate mobility solutions with passion to enhance the
quality of life. Tata Motors has four culture pillars that guide its actions and
decisions: be bold, own it, solve together, and be empathetic.

Tata Motors has a presence in over 125 countries and regions across Africa, Middle
East, Latin America, South East Asia and SAARC countries. Tata Motors has
manufacturing and assembly plants in India, Argentina, South Africa, the United
Kingdom, and Thailand. Tata Motors also has research and development centres in
India, the United Kingdom, South Korea, Italy and Spain. Tata Motors is listed on
the Bombay Stock Exchange (BSE), the National Stock Exchange of India (NSE),
and the New York Stock Exchange (NYSE). Tata Motors is ranked 265th on the
Fortune Global 500 list of the world’s biggest corporations as of 2019.

Tata Motors is constantly evolving and improving its products and processes to
meet the changing needs and expectations of consumers and society. Tata Motors
is pioneering India’s electric vehicle (EV) transition and driving the shift towards

9
 sustainable mobility solutions by preparing a tailor-made product strategy,
leveraging the synergy between the Group companies, and playing an active role
liasoning with the Government in developing the policy framework. Some of the
current trends and innovations in the industry are:

 Electric vehicles (EVs): EVs are vehicles that use electricity as their primary or
sole source of power. EVs have lower emissions, lower operating costs, higher
efficiency, and reduced dependence on fossil fuels. Tata Motors offers EV models
such as the Nexon EV, Tigor EV, Tiago EV, Altroz EV, and Ziptron.
 Autonomous vehicles (AVs): AVs are vehicles that can drive themselves without
human intervention or supervision. AVs use various sensors, cameras, radars,
software, and artificial intelligence to perceive their environment and navigate
safely. Tata Motors is developing AV technologies such as adaptive cruise control
(ACC), lane keep assist (LKA), park assist (PA), traffic sign recognition (TSR),
and emergency brake assist (EBA).
 Connectivity: Connectivity refers to the ability of vehicles to communicate with
other vehicles (V2V), infrastructure (V2I), devices (V2D), or networks (V2N)
using wireless technologies. Connectivity enables various features and services for
vehicles such as navigation, entertainment, diagnostics, security. Tata Motors
offers connectivity solutions such as iRA (Intelligent Real-time Assist), ZConnect
(Zypp Electric’s app-based platform), Harman Connected Car Platform (HCCP),
and What3Words (a global addressing system).

Tata Motors is also committed to corporate social responsibility (CSR) and

contributes to various causes such as education, health, environment, rural
development, skill development, sports, arts and culture. Tata Motors supports
various initiatives such as Hamare Bus Ki Baat Hai (a school bus safety program),
Eklavya Model Residential Schools (EMRS) for tribal children, Project Udaan (a
skill development program for Kashmiri youth), Project Saksham (a road safety
awareness program), Project Samarth (a driver welfare program), Project Shiksha
(a school infrastructure development program), Project Aarogya (a health care
program), Project Hariyali (a tree plantation program), Project Jaljyoti (a water
conservation program), Project Nanhi Kali (a girl child education program), Project
Parivartan (a rural development program), Project Swachh Vidyalaya Abhiyan (a
sanitation program for schools), Project Vikasana (a skill development program for
women), Project Prayas (a sports promotion program), Project Kalakriti (an arts
and culture promotion program).

10
 REVIEW OF LITERATURE

Abhishek Bajpai, Anjali Singh and Abhineet Verma(2022, December) :Stock

market analysis has always been an important aspect of every country's financial
sector. As of now, various research has been done to predict the stock market prices
but only considering the technical stock data. However, the problem lies in
combining the technical data of stock prices and news sentiments from financial
news data so that prediction can be done with much greater accuracy. In our paper,
we have designed a stock price prediction system and proposed an approach in
which technical stock Data is evaluated by technical means and news sentiment
data is represented in the form of sentiment vectors using sentiment analysis. We
have deployed Particle Swarm Optimization (PSO) to tune the hyper- parameters
of the Support Vector Machine for regression (SVR), thus providing better results.
We have done experiments on the Tata Motors stock price data and compared our
approach with who have deployed the SVM-PSO model with basic technical
features taken into consideration. Our model SVR-PSO with financial news data
gives a Mean Absolute Percentage Error of 0.29% as compared to the standard
SVM- PSO which gives a Mean Absolute Percentage Error of 0.71 %.

R. Kavitha, D. Nishanth , V. Sutharsan , S. Barathbalaji(2023): The TATA

Motors stock prediction system is a machine learning tool that uses regression
algorithms to analyze historical data on TATA Motors stock prices, market trends,
economic indicators, and industry news. This system aims to help TATA Motors
build a business model for the next few months by providing accurate predictions
of future stock prices. By mitigating risks associated with investing in the stock
market, TATA Motors can make better investment decisions and avoid losses. The
system is designed to be user-friendly, with an intuitive interface that makes it easy
for TATA Motors employees to input data and access predictions. Furthermore,
the system can inform longer-term strategic planning and investment decisions.
However, the accuracy of the predictions is reliant on the quality and relevance of
the input data. Regular updating and refining of both the input data and the
algorithms used to analyze, may be necessary to maintain the system's accuracy.

Venkatalakshmi, M., & Sindhu, C. M. (2010): A stock market is a public market

for the trading of a company's stocks and derivatives at an agreed price; these are
securities listed on a stock exchange as well as those only traded privately. Tata
Motors, the first company from India's engineering sector to be listed in the New
York stock exchange, (September 2004) has also emerged as an international
automobile company. The study is concerned with the technical analysis of equity
shares of Tata Motors for the period from November 2008 to April 2009 with a
view to analyze and understand the equity shares of the Tata Motors. The study is
fully based on the secondary data which have been collected from the company
reports and websites.

Baig, M. M., Ahmed, S. F., Hussain, S. M., & Hussaini, S. A. (2023):The idea
is to identify a multibagger trade by researching past Multibagger Shares and their
characteristics. The decision tree approach is utilized for carrying out statistical
operations like data discovery, text extraction, and erroneous information detection
in a class. In this article, researchers sought to analyze information on the stock
market over the last 20 years. Samples containing basic and technological data are

11
taken into account. The techniques of machine learning and data science methods
are used in this investigation. Machine learning is highly efficient in many
industries for automating activities that used to require human labor. One such
application of ML involves predicting whether or not a certain deal will be
profitable. In this study, the stock analysis of Tata Motors, Indian Oil, and Tata
Steel are utilized as demonstrations. The findings from this study will assist
investors in making faster and better judgments so that they can make money from
the investments they make.

Samip Mashru, Rajesh Baria, Amit Kaswan, Dr. M. Sumetha(March 2023):In

the past few years, Tata Motors succeeded by exploiting international
opportunities. Its percentage of revenue from international operations has increased
from 9% in 2016 to 79.80% in 2018. Hence its strategy is worthy of study. ‘Flexible
Strategy Framework’ is used to analyse the strategy of Tata Motors which evolved
to gain its international presence in the automotive manufacturing industry. This
framework is an attempt to manage change, along with the consideration of
continuity forces in the organization. The ability of the firm to integrate continuity
and change forces effectively has made the firm competitive in the international
market. The organization is continually doing innovations to keep itself ahead of
the competition. This study is a novel attempt to explore linkages between
internationalization and competitiveness using the framework of flowing stream
strategy.

Dr. Kandarp Chavda, Mrunal Jagdish Mehta(January-March)2023: It has

been seen that due to intensification of investors, the numbers of performance
evaluation measures are evolving day-by-day. One of the most famous models to
predict the financial distress of the company is Altman Z score model. Alman Z
score model helps the investor to analyse the financial health of the company in a
more better way than anything else. In this research paper, an attempt has been
made to analyse the Tata Motors Ltd. By using the Altman Z Score model. The
core part of this paper is data analysis has been carried out on the basis of Altman
Z Score model. To analyse the present financial health of Tata Motors Ltd., last
five years data from 2017 to 2021 has been taken as a period of the research study.
After analysingthe five years data and all the factors of Altman Z score model, it is
noticed that Tata Motors Ltd. is in distress zone now-a-days. However, the latest
data showsthat company istrying verywell to recover its financial distress.

Vikas Patel,Ashwani Kumar,Deepak Yadav(June 2023):Due to how

unpredictable and non-linear financial markets are, it is challenging to predict stock
market returns with accuracy. Programmed methods, however, have shown to be
increasingly effective at forecasting stock values as artificial intelligence and
processing power have advanced, This study used Support Vector Machine (SVM),
Random Forest (RF), Long Short-Term Memory (LSTM), K-Nearest Neighbors
(KNN), and Gated Recurrent Unit (GRU) approaches to estimate the closing price
of five businesses from distinct sectors for the following day. The models' new
variables were created by using financial data, such as Open, High, Low, and Close
prices, as inputs. The models were assessed using common strategic metrics,
including RMSE, MSE, and MAE, where low values signify that the models were
successful at predicting stock values.

12
Junaid Maqbool , Preeti Aggarwal , Ravreet Kaur , Ajay Mittal , Ishfaq
Ali Ganaie (2023): The stock market is highly volatile as it depends on political,
financial, environmental, and various internal and external factors along with
historical stock data. Such information is available to people through microblogs
and news and predicting stock price merely on historical data is hard. The high
volatility emphasizes the importance to check the effect of external factors on the
stock market. In this paper, a machine learning model is proposed where the
financial news is used along with historical stock price data to predict upcoming
stock prices. The paper has used three algorithms to calculate various sentiment
scores and used them in different combinations to understand the impact of
financial news on stock price as well the impact of each sentiment scoring
algorithm. Experiments have been conducted on ten-year historical stock price data
as well as financial news of four different companies from different sectors to
predict the next day and next week's stock trends and accuracy metrics were
checked for a period of 10, 30, and 100 days. The proposed model can achieve the
highest accuracy of 0.90 for both trend and future trends for a period of 10 days.
Experiments have also been performed to check the difficulty in predicting some
stocks. It was found that Tata Motors an automobile company stock prediction has
maximum MAPE and hence deviates more from actual prediction as compared to
others.

Anirudh Kumar Pradhan,Ashish Kumar Pradhan,R Srivastava(2023):This

research study intends to predict the stock price movement of a set of stocks using
the Geometric Brownian Motion and optimize the portfolio built from selected
stocks using Feed Forward Neural Network. The onset of the current global
pandemic has led to major negative implications for the overall economy and
personal financial situations. With many people losing jobs, getting reduced
salaries, and exhausting their savings, they have started to invest heavily. The
Securities and Exchange Board of India (SEBI) reports that there were 4.9 million
new Demat accounts opened in the fiscal year 2020, which was the biggest in at
least ten years. Thus, the study of the Stock Exchange is very relevant to the current
times. We shall explain the importance of learning about investing in the Stock
Market and derive an efficient model to make real-time predictions of a stock price
and build an optimized portfolio. In the finance sector, portfolio optimization is a
critical responsibility. The goal of portfolio optimization is to increase return on
investment while lowering portfolio risk. Due to its capacity to understand intricate
correlations between input and output variables, feed-forward neural networks
have been successfully used to solve portfolio optimization issues. We explore the
research on portfolio optimization using feed-forward neural networks in this
paper.

K. Riyazahmed(2023): Anu has invested a considerable amount of money in Tata

Motors, a famous global automobile company headquartered in India. As someone
new to equity investing, she invests in blue-chip companies like Tata, and her
concern has been growth potential and share appreciation. But some investors are
dissatisfied about the dividend payments that Tata Motors anticipated but has not
paid over the last five years. For now and the future, Anu wants to learn more about
how dividends may affect stock value. She consults with her professor to learn
more and come to her own decision on the question of dividends. The case

13
encourages students to analyze information and theories about dividends in order
to advise Anu.

This case was prepared for inclusion in SAGE Business Cases primarily as a basis
for classroom discussion or self-study, and is not meant to illustrate either effective
or ineffective management styles. Nothing herein shall be deemed to be an
endorsement of any kind. This case is for scholarly, educational, or personal use
only within your university, and cannot be forwarded outside the university or used
for other commercial purposes.

2023 Sage Publications, Inc. All Rights Reserved

14
 RESEARCH GAP

 Global Economic and Political Factors: Investigating how global economic

conditions, trade policies, and geopolitical events impact Tata Motors' stock
performance.
 Long-term Sustainability Metrics: Exploring how sustainability metrics, such as
environmental, social, and governance (ESG) criteria, affect Tata Motors' stock
performance an investor sentiment is an emerging area of interest..
 Technological Advancements and Innovation: Understanding how Tata Motors'
investments in autonomous driving technology, connectivity, and other
innovations affect its competitive position and stock performance may be
underexplored.
 Market Sentiment and Behavioral Factors: Investigating the role of behavioral
finance and market sentiment in Tata Motors' stock performance can provide
insights into stock market anomalies and investor behavior.
 Comparative Analysis: Research that compares Tata Motors' stock performance
with that of other global automotive companies could provide insights into relative
strengths and weaknesses.
 Regulatory Changes and Compliance: Research on how changes in regulatory
environments, including emissions standards and safety regulations, affect Tata
Motors' stock could be an underexplored area.

PROJECT OBJECTIVE

 To analyse

 stock market analysis and

 candle pattern of Tata Motors from 01-04-2020 to 31-03-2021(on monthly basis).

15
 RESEARCH METHODOLOGY

 The study uses time-series data of the daily open, high, low, and close prices of
Tata Motors from 1/3/2020 to 31/3/2021, obtained from the National Stock
Exchange of India.
 The data sources are secondary, as they are obtained from the annual reports of
Tata Motors, the stock exchange websites, and other reliable sources of financial
information.
 The study uses a candlestick chart to plot the data and visualize the price
movements of the stock on each trading day. A candlestick chart is a type of
graphical representation that shows the open, high, low, and close prices of a stock
in a given time period. Each candlestick consists of a real body and a shadow. The
real body represents the difference between the open and closed prices, while the
shadow represents the highest and lowest prices. The color of the real body
indicates whether the stock closed higher or lower than the open price. A green (or
white) real body means that the stock closed higher than the open price, indicating
a bullish day. A red (or black) real body means that the stock closed lower than the
open price, indicating a bearish day.
 The study uses candlestick patterns to identify and analyze the trends, reversals,
and corrections in the market. Candlestick patterns are formed by one or more
candlesticks that have a specific shape, size, color, and position relative to each
other. They reflect the sentiment and psychology of the traders and investors in the
market. Some of the common candlestick patterns are reversal patterns,
continuation patterns, and indecisive patterns.
 The study also uses technical indicators to provide additional information about
the strength, momentum, volatility, and sentiment of the market. Technical
indicators are mathematical calculations based on the price and volume data that
generate signals and values that can be used to confirm or contradict the candlestick
patterns. Some of the common technical indicators are moving averages, MACD,
RSI, and Bollinger Bands.
 The study involves looking at the color, shape, size, and position of the candles and
their relation to each other and the technical indicators. The study identifies various
types of candlestick patterns such as reversal patterns, continuation patterns, and
indecisive patterns that indicate the possible price movement in the market. The
study also compares the performance of the stock with the benchmark index (Nifty
50) and evaluates the risk-return trade-off. The study aims to help traders and
investors make informed trading decisions based on the candlestick analysis.
 The data analysis method is to use the candlestick chart technique to identify and
interpret the various candlestick patterns that indicate the bullish or bearish
sentiment of the market participants, and their implications for the future direction
of the stock price. The candlestick chart shows the open, high, low, and close prices
of the stock for each trading day, as well as the color and shape of the candles that
represent the price action. Some of the common candlestick patterns are doji,
hammer, shooting star, engulfing, harami, morning star, evening star, etc.
 The data presentation method is to use tables, charts, graphs, and diagrams to
display the data and findings clearly and concisely. The data presentation also
includes a summary, an introduction, a literature review, a discussion, a conclusion,
and a recommendation section.

16
 NATURE OF STUDY

 The study is a quantitative and qualitative research, as it involves the use of numerical
data and statistical methods, as well as the use of descriptive and interpretive analysis,
to examine the price movements and trends of Tata Motors Ltd (TAMO) share on the
National Stock Exchange (NSE) of India.
 The study is descriptive and exploratory research, as it aims to describe the historical
patterns and factors of TAMO share in the specified period, as well as to explore the
possible implications and recommendations for investors based on the technical and
fundamental analysis of TAMO.
 The study is secondary research, as it relies on the existing data and information that
are available on the web, using the web search tool. The sources include web pages that
provide the candlestick chart, the fundamental analysis, and the news articles of TAMO.

17
 SCOPE OF STUDY
 The scope of the study covers the price movements and trends of Tata Motors Ltd
(TAMO) share on the National Stock Exchange (NSE) of India, using the
candlestick chart technique, in the specified period.
 The scope of the study also covers the fundamental factors that influenced the
performance of Tata Motors Ltd in the period from 1/4/2020 to 31/3/2021, such as
the impact of COVID-19 pandemic, the recovery of its British subsidiary Jaguar
Land Rover (JLR), the launch of new products and initiatives, and the
announcement of its new vision and strategy.
 The scope of the study does not include the analysis of other technical indicators,
such as moving averages, trendlines, oscillators, etc., or other fundamental aspects,
such as dividend policy, corporate governance, social responsibility, etc., of Tata
Motors Ltd.
 The scope of the study is based on the secondary data and information that are
available on the web, using the web search tool. The sources include web pages
that provide the candlestick chart, the fundamental analysis, and the news articles
of TAMO.

18
 SAMPLING PROCEDURE AND DESIGN FOR ANALYSIS

 The sampling procedure is to use the web search tool to find relevant and reliable
sources of information on the stock price movements, trends, patterns, and
fundamental factors of Tata Motors Ltd (TAMO) in the specified period. The
sources include web pages that provide the candlestick chart, the fundamental
analysis, and the news articles of TAMO.
 The sampling design is to use a non-probability sampling method, as the sources
are not selected randomly, but based on the availability, accessibility, and
suitability of the information. The sampling design is also purposive, as the sources
are chosen according to the specific objectives and criteria of the study. The
sampling design is also systematic, as the sources are arranged in chronological
order, from 1/4/2020 to 31/3/2021.
 The study uses candlestick patterns to identify and analyze the trends, reversals,
and corrections in the market. Candlestick patterns are formed by one or more
candlesticks that have a specific shape, size, color, and position relative to each
other. They reflect the sentiment and psychology of the traders and investors in the
market. Some of the common candlestick patterns are HAMMER, EVENING
STAR, HANGING MAN, etc..

19
 METHOD OF DATA COLLECTION

 The study uses time-series data of the daily open, high, low, and close prices of
Tata Motors from 1/4/2020 to 31/3/2021, obtained from the National Stock
Exchange of India.
 The data sources are secondary, as they are obtained from the annual reports of
Tata Motors, the stock exchange websites, and other reliable sources of financial
information
 The method of data collection is to use the web search tool to find relevant and
reliable sources of information on the stock price movements, trends, patterns, and
fundamental factors of Tata Motors Ltd (TAMO) in the specified period. The
sources include web pages that provide the candlestick chart, the fundamental
analysis, and the news articles of TAMO.
 The web search tool is a predefined tool that I can use to search the web for any
query and return the results in a JSON format. The results include the title, snippets,
and URL of each web page that matches the query. For example, I used the web
search tool to search for the “method of data collection for stock market analysis
and candle pattern of Tata motors from 1/4/2020 to 31/3/2021” and obtained three
results.
 The web search tool helps me to find the most relevant and updated information on
the topic, as well as to compare and contrast different sources and perspectives.
The web search tool also helps me to avoid plagiarism, as I can cite the sources
properly using the defined citation schema.
 The data analysis method is to use the candlestick chart technique to identify and
interpret the various candlestick patterns that indicate the bullish or bearish
sentiment of the market participants, and their implications for the future direction
of the stock price. The candlestick chart shows the open, high, low, and close prices
of the stock for each trading day, as well as the color and shape of the candles that
represent the price action. Some of the common candlestick patterns are doji,
hammer, shooting star, engulfing, harami, morning star, evening star, etc.

20
 LIMITATIONS OF STUDY

 The analysis is based on the secondary data and information that are available on
the web, using the web search tool. The sources may not be accurate, reliable,
updated, or unbiased, and may contain errors or omissions. The sources may also
have different perspectives and interpretations of the same data and information.
 The analysis is based on the candlestick chart technique, which is a graphical
representation of the price movements and trends of Tata Motors Ltd (TAMO)
share on the National Stock Exchange (NSE) of India. The candlestick chart
technique may not capture all the factors and events that affect the stock price, such
as market sentiment, news, rumors, expectations, etc. The candlestick chart
technique may also be subjective and ambiguous, as different analysts may identify
and interpret different candlestick patterns in the same chart.
 The analysis is based on the fundamental factors that influenced the performance
of Tata Motors Ltd in the period from 1/4/2020 to 31/3/2021, such as the impact of
COVID-19 pandemic, the recovery of its British subsidiary Jaguar Land Rover
(JLR), the launch of new products and initiatives, and the announcement of its new
vision and strategy. The fundamental factors may not reflect the true value or
potential of Tata Motors Ltd, as they may be affected by external or internal factors
that are beyond the control or knowledge of the company. The fundamental factors
may also change over time, as the company faces new challenges and opportunities
in its domestic and international markets.
 The analysis is based on a specific period from 1/4/2020 to 31/3/2021, which may
not be representative or indicative of the long-term performance or trend of Tata
Motors Ltd. The stock price of Tata Motors Ltd may fluctuate significantly in
different periods, depending on the supply and demand of the market participants,
as well as the macroeconomic and microeconomic conditions. The analysis may
not account for the seasonality, cyclicality, volatility, or randomness of the stock
price movements.

21
 DATA ANALYSIS AND INTERPRETATION
(STOCK MARKET AND CANDLE PATTERN ANALYSIS)

1. FROM 1/4/2020 TO 30/4/2020

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 64.76 and Rs. 93.73 in the given period, with a high
of Rs. 93.73 on 30/4/2020 and a low of Rs. 64.76 on 1/4/2020.

 The stock showed an overall upward trend in April 2020, as it gained 35.36%
from the opening price of Rs. 70.45 on 1/4/2020 to the closing price of Rs. 93.25
on 30/4/2020.

 The stock showed a bullish trend in April 2020.

 Inverted Hammer on 8/4/2020.

 Pricing line on 16/4/2020. Because the green candle of 16/4/2020 engulfs the 50%
body of the previous red candle of 15/4/2020.It’s a double candle pattern.

22
2. FROM 1/5/2020 TO 31/5/2020

 According to the Tata Motors Ltd Future Candlestick Chart, the stock price of
Tata Motors fluctuated between Rs. 79.61 and Rs. 92.51 in the given period, with
a high of Rs. 92.51 on 13/5/2020 and a low of Rs. 79.61 on 18/5/2020.

 The stock showed an overall upward trend in May 2020, as it gained 1.21% from
the opening price of Rs. 86.01 on 4/5/2020 to the closing price of Rs. 87.05 on
29/5/2020.

 The stock showed a bullish trend in May 2020.

 Bearish Harami on 5/5/2020 & 6/5/2020.It is double candle pattern.

23
3. FROM 1/6/2020 TO 30/6/2020

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 88.01 and Rs. 119.13 in the given period, with a
high of Rs. 119.13 on 8/6/2020 and a low of Rs. 88.01 on 1/6/2020.

 The stock showed an overall upward trend in June 2020, as it gained 10.49%
from the opening price of Rs. 88.92 on 1/6/2020 to the closing price of Rs. 98.25
on 30/6/2020.

 The stock showed a bullish trend in June 2020.

 Bearish Harami on 12/6/2020 & 15/6/2020.It is double candle pattern.

 Standard Doji on 25/6/2020.

24
4. FROM 1/7/2020 TO 31/7/2020

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 98.18 and Rs. 112.59 in the given period, with a
high of Rs. 112.59 on 7/7/2020 and a low of Rs. 98.18 on 1/7/2020.

 The stock showed an overall upward trend in July 2020, as it gained 5.71% from
the opening price of Rs. 99.00 on 1/7/2020 to the closing price of Rs. 104.65 on
31/7/2020.

 The stock showed a bullish trend in July 2020.

 Evening Star shows the date of 6,7& 8/7/2020.Its a three candle pattern.

 Bullish Engulfing on 22/7/2020.

 Bearish Harami on 17/7/2020 & 20/7/2020.It is double candle pattern.

 Hammer on 16/7/2020.

25
5. FROM 1/8/2020 TO 31/8/2020

 According to the Tata Motors Ltd Candlestick Chart, the stock price of Tata
Motors fluctuated between Rs. 102.86 and Rs. 147.80 in the given period, with a
high of Rs. 147.80 on 31/8/2020 and a low of Rs. 102.86 on 3/8/2020.

 The stock showed an overall upward trend in August 2020, as it gained 39.03%
from the opening price of Rs. 103.00 on 3/8/2020 to the closing price of Rs. 143.20
on 31/8/2020.

 The stock showed a bullish trend in August 2020.

 Bullish Engulfing on 12/8/2020.

 Bearish Engulfing on 14/8/2020.

26
6. FROM 1/9/2020 TO 30/9/2020

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 122.20 and Rs. 155.18 in the given period, with a
high of Rs. 155.158 on 3/9/2020 and a low of Rs. 122.20 on 24/9/2020.

 The stock showed an overall downward trend in September 2020, as it lost 6.94%
from the opening price of Rs. 143.24 on 1/9/2020 to the closing price of Rs. 133.30
on 30/9/2020.

 The stock showed a bearish trend in September 2020.

 Bearish Harami on 24/9/2020 & 25/9/2020.

 Gravestone Doji on 4/9/2020.

27
7. FROM 1/10/2020 TO 31/10/2020

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 126.03 and Rs. 145.79 in the given period, with a
high of Rs. 145.79 on 6/10/2020 and a low of Rs. 126.03 on 16/10/2020.

 The stock showed an overall downward trend in October 2020, as it lost 2.40%
from the opening price of Rs. 135.91 on 1/10/2020 to the closing price of Rs.
132.65 on 30/10/2020.

 The stock showed a bearish trend in October 2020.

 Bearish Harami on 6/10/2020 & 7/10/2020.

 Bearish Engulfing on 26/10/2020.

 Long-legged Doji on 29/10/2020.

28
8. FROM 1/11/2020 TO 30/11/2020

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 131.10 and Rs. 183.96 in the given period, with a
high of Rs. 183.96 on 27/11/2020 and a low of Rs. 131.10 on 2/11/2020.

 The stock showed an overall upward trend in November 2020, as it gained

35.00% from the opening price of Rs. 133.61 on 2/11/2020 to the closing price of
Rs. 180.35 on 27/11/2020.

 The stock showed a bullish trend in November 2020.

 Bearish Harami on 18/11/2020 & 19/11/2020.

 Bullish Harami on 25/11/2020 & 26/11/2020.

 Doji on 12/11/2020 & 24/11/2020.

29
9. FROM 1/12/2020 TO 31/12/2020

 According to the Tata Motors Ltd Share Candlestick Chart, the stock price of
Tata Motors fluctuated between Rs. 156.75 and Rs. 188.87 in the given period,
with a high of Rs. 188.87 on 4/12/2020 and a low of Rs. 156.75 on 22/12/2020.

 The stock showed an overall upward trend in December 2020, as it gained 0.89%
from the opening price of Rs. 182.23 on 1/12/2020 to the closing price of Rs.
183.85 on 31/12/2020.

 The stock showed a bullish trend in December 2020.

 Standard Doji on 2/12/2020.
 Morning Star on 22/12/2020.
 Hammer on 15/12/2020.
 Dark cloud on 17/12/2020. Because the red candle of 17/12/2020 engulfs the 50%
body of the previous green candle of 16/12/2020.
 Three white soldiers are on 23,24 & 25/12/2020.
 Long-legged Doji on 22/12/2022.

30
10.FROM 1/1/2021 TO 31/1/2021

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 184.57 and Rs. 307.16 in the given period, with a
high of Rs. 307.16 on 22/1/2021 and a low of Rs. 184.57 on 1/1/2021.

 The stock showed an overall upward trend in January 2021, as it gained 42.07%
from the opening price of Rs. 184.92 on 1/1/2021 to the closing price of Rs. 262.72
on 29/1/2021.

 The stock showed a bullish trend in January 2021.

 Bullish Engulfing on 5/1/2021.

31
11.FROM 1/2/2021 TO 28/2/2021

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 255.49 and Rs. 342.08 in the given period, with a
high of Rs. 342.08 on 2/2/2021 and a low of Rs. 255.49 on 1/2/2021.

 The stock showed an overall upward trend in February 2021, as it gained 19.67%
from the opening price of Rs. 269.59 on 1/2/2021 to the closing price of Rs. 322.63
on 26/2/2021.

 The stock showed a bullish trend in February 2021.

 Hammer on 1/2/2021.

32
12.FROM 1/3/2021 TO 31/3/2021

 According to the Tata Motors Ltd Technical Chart, the stock price of Tata
Motors fluctuated between Rs. 282.37 and Rs. 356.95 in the given period, with a
high of Rs. 356.95 on 3/3/2021 and a low of Rs. 282.37 on 25/3/2021.

 The stock showed an overall downward trend in March 2021, as it lost 8.49%
from the opening price of Rs. 329.81 on 1/3/2021 to the closing price of Rs. 301.80
on 31/3/2021.

 The stock showed a bearish trend in March 2021.

 Bearish Engulfing on 12/3/2021.

33
 FINDINGS

 The results of the study show that Tata Motors experienced a significant increase
in its stock price from 1/4/2020 to 31/3/2021, increasing from Rs. 70.45 to Rs.
356.81, a gain of 419.24%. The stock also remained below its 200-day moving
average throughout this period, indicating a bullish long-term trend.
 Tata Motors Ltd Candle Chart, the stock price of Tata Motors (from 1/4/2020 to
31/3/2021) fluctuated between Rs. 64.76 and Rs. 356.95 in the given period, with
a high of Rs. 356.95 on 3/3/2021 and a low of Rs. 64.76 on 30/4/2020.
 Showed an uptrend market in April, May, June, July, August, November
December, January(21)& February (21).
 And downtrend market in September, October & March (2021)
 Overall market shows downtrend i.e. BULLISH MARKET

 The stock price of TAMO declined from Rs. 185 in January 2020 to Rs. 71.05 in
March 2020, due to the impact of the COVID-19 pandemic on its operations, sales,
and supply chain in India and abroad.
 The stock price of TAMO recovered gradually from April 2020 to March 2021,
reaching Rs. 301 by the end of the period, driven by the improvement in its British
subsidiary Jaguar Land Rover (JLR), which posted strong sales and profitability in
some markets, especially China.
 The candlestick chart of TAMO shows several bullish and bearish patterns that
indicate the reversal or continuation of the trend, such as hammer, shooting star,
engulfing, harami, morning star, evening star, etc.

 The fundamental analysis of TAMO suggests that the company faced various
challenges and opportunities in the period from 1/4/2020 to 31/3/2021, such as:
 The disruption caused by the COVID-19 pandemic on its domestic and
international markets, affecting its production, sales, and cash flow.
 The recovery in its JLR business, which benefited from its product portfolio,
cost reduction measures, and strong demand in China.
 The launch of new products and initiatives, such as Nexon EV, Altroz iTurbo,
Safari SUV, Tata Motors New Forever range, etc.
 The announcement of its new vision and strategy called ‘New Tata Motors’,
which aims to transform its business model, product portfolio, and customer
experience.

34
 SUGGESTIONS OR RECOMMENDATION

 Investors who are bullish on Tata Motors Ltd (TAMO), may consider buying the
stock when it forms a bullish candlestick pattern, such as a hammer, a morning star,
or an engulfing, that indicates a reversal or a continuation of the uptrend. They may
also look for positive fundamental factors, such as strong sales and profitability of
its JLR business, new product launches, and new vision and strategy, that support
the growth potential of TAMO.
 For investors who are bearish on Tata Motors Ltd (TAMO), they may consider
selling or shorting the stock when it forms a bearish candlestick pattern, such as a
shooting star, an evening star, or an engulfing, that indicates a reversal or a
continuation of the downtrend. They may also look for negative fundamental
factors, such as the disruption caused by the COVID-19 pandemic, competitive
pressures, and high debt levels, that hamper the performance of TAMO.
 For investors who are neutral on Tata Motors Ltd (TAMO), they may consider
holding or hedging the stock when it forms a neutral candlestick pattern, such as a
doji or a harami, that indicates indecision or a balance between buyers and sellers.
They may also look for mixed fundamental factors, such as the recovery in some
markets and the challenges in others, that create uncertainty and volatility for
TAMO.

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 CONCLUSION

 The stock price of Tata Motors Ltd (TAMO) recovered gradually from April 2020
to March 2021, reaching Rs. 301.80 by the end of the period
 The stock market analysis and candle pattern of Tata Motors Ltd (TAMO) share
on the National Stock Exchange (NSE) of India revealed that the company
experienced a significant decline in its stock price in the first quarter of the financial
year 2020-21, due to the impact of COVID-19 pandemic on its operations, sales,
and supply chain in India and abroad. However, the company recovered gradually
in the subsequent quarters, driven by the improvement in its British subsidiary
Jaguar Land Rover (JLR), which posted strong sales and profitability in some
markets, especially China. The company also launched new products and
initiatives, such as Nexon EV, Altroz iTurbo, Safari SUV, Tata Motors New
Forever range, etc., and announced its new vision and strategy called ‘New Tata
Motors’, which aims to transform its business model, product portfolio and
customer experience.
 The candlestick chart technique was used to identify and interpret the various
candlestick patterns that indicate the bullish or bearish sentiment of the market
participants, and their implications for the future direction of the stock price. The
candlestick chart showed several bullish and bearish patterns that indicate the
reversal or continuation of the trend, such as hammer, shooting star, engulfing,
harami, morning star, evening star, etc. The candlestick patterns also helped to
identify the support and resistance levels, as well as the entry and exit points for
investors.
 The fundamental analysis was used to evaluate the performance of Tata Motors Ltd
in the period from 1/4/2020 to 31/3/2021, based on its financial results, equity
research, valuation, expert ratings, and peer comparison. The fundamental analysis
also considered the impact of the COVID-19 pandemic, the recovery of its JLR
business, the launch of new products and initiatives, and the announcement of its
new vision and strategy on its business model, product portfolio and customer
experience. The fundamental analysis helped to assess the strengths and
weaknesses of Tata Motors Ltd, as well as the opportunities and threats in its
domestic and international markets.
 The study concluded that Tata Motors Ltd is a leading automobile manufacturer in
India, with a diversified product portfolio and a strong presence in both domestic
and international markets. The company faced various challenges and opportunities
in the period from 1/4/2020 to 31/3/2021, which affected its stock price movements
and trends. The study also suggested some recommendations for investors based
on the technical and fundamental analysis of Tata Motors Ltd.

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