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Why Tata Teleservices Share Price is Poised to Continue Dropping




Throughout the month, the Tata Teleservices share price traded with strong momentum and volatility. At one point, the company was up more than 30% for the month, primarily due to trading activity that occurred on the first two days of the month.

However, since then, Tata Teleservices’ share price has been in freefall, which has seen it fall 30% since September 2, the highest prices yet. The decline was accompanied by other market factors, such as the rate of inflation in India and the decline in the value of the Indian rupee against the dollar. These factors have made it harder for the company to continue making gains in the markets, which has led to the current price decline.

During today’s trading session, however, Tata Teleservices’ share price rose 2%. Prices also look likely to continue higher throughout the session, and so there is a high probability that prices will close the session higher.

Tata Teleservices Share Price Prediction

Despite today’s upward push, my Tata Teleservices price prediction predicts that the long-term downtrend will continue. As noted above, current inflation rates and the declining value of the Indian Rupee will be major factors in the coming weeks.

The impact of these factors resulted in high operating costs for the company, which affected its bottom line. Their customers have also had to cut spending on Tata Teleservices, which is also likely contributing to the current price drop.

Therefore, I expect the Tata Teleservices price to fall below the 100 price level and perhaps reach the 90.5 demand level in the coming weeks. My bearish analysis is also supported by technical indicators such as the Alligator Williams, which, based on the daily chart below, gives signals for the continuation of the long-term downtrend. A trade above the 115 price level will invalidate my analysis.

Tata Teleservices Daily Chart