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Tata Motors Ltd.
  • Overview
  • News
  • Financials
  • Technicals
  • Peers
  • Shareholdings
  • MF
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  • About

Tata Motors Ltd.

  • 333.1511.50 (3.58%)
  • Closed
  • As On: 03:56 PM IST
  • 1D
  • 1W
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
OPEN TRADING A/C
  • Open325.35
  • High334.70
  • Low323.25
  • Prev Close321.65
  • Volume6,45,10,754
  • VWAP(₹)328.90

Insights

Rank 7 - ET 5002020 ranking

  • New Product launches

    In the domestic market, new models have been launched. Initial response has been better than earlier launches. But what needs to be watched is whether the momentum will sustain and other launches would follow.

  • Jaguar holds the key to re-rating

    The sales of Jaguar have picked up in China, Europe -- which keeps getting into its second lock down phase -- might create some short-term issue. Any positive surprise on jaguar sales from Europe could strengthen the case of re-rating.

  • January sales – Both HCV and LCV shine

    Sales of medium and heavy commercial vehicles ( M&HCV) in domestic markets saw YoY increase, though flat on MoM basis. The light commercial vehicles (LCV) witnessed both YoY and MoM increase. With budget focusing on infrastructure, both HCV and LCV demand will have a strong tailwinds.

  • Target zero debt

    The company plans to have zero debt by 2024. This would entail, reducing capex and selling some of the non-core assets. At the first hint from the company that it is on track to achieve what it is claiming, its stock might see a re-rating.

Found Insights useful?

Key Metrics

  • PE Ratio(x)-7.03
  • EPS - TTM(₹)-47.41
  • MCap(₹ Cr.)1,10,666
  • MCap Rank3
  • PB Ratio(x)0.65
  • Div Yield(%)0.00
  • Face Value(₹)2.00
  • 52W High(₹)341.90
  • 52W Low(₹)63.50
  • MCap/Sales0.10
  • Beta(1 Month)2.09
  • BV/Share(₹)192.43

Returns

  • 1 Day3.58%
  • 1 Month19.34%
  • 3 Months94.31%
  • 1 Year122.25%
  • 3 Years-7.51%
  • 5 Years11.72%

Tata Motors News & Analysis

View all News & Announcements

Tata Motors Recommendations

  • Target₹390
  • OrganizationMotilal Oswal Financial Services
  • BUY
  • Target₹389
  • OrganizationICICI Securities
  • BUY
View all Recommendations

Financials

    • Focus area : improve volumes and reduce costs and improve cash flows

      The Company has taken various initiatives, to maintain its leadership, improve market share and financial performance. It has been aggressively pursuing and implementing its strategies to improve volumes and reduce costs and improve cash flows, launch of new products with advanced technologies, (particularly in passenger vehicles) coupled with sale, service, marketing campaigns and customer engagement programs.

    • Scenario Building **

      Global industry volumes of about 55 million units for calendar year 2020 and about 65 million units for calendar year 2021, representing decreases of about 39% and 28% respectively compared to calendar year 2019. This represents a more L shaped recovery from COVID-19, based on selected external industry downside forecasts. • Compared to Fiscal 2019/20, a decline in JLR wholesale volumes for Fiscal 2020/21 and Fiscal 2021/22 broadly similar to the assumed industry decline referenced, with adjustment for the effect of moving from a calendar year to the Group’s 31st March year-end.

    • New Product launches

      After a hiatus of nearly 4 years, the back-to back product launches in PV and CV had a rejuvenation effect for the Tata Motors brand supporting the topline focus gaining market share across all categories.

    Show More
  • Dec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income76,365.7954,163.2232,589.5963,057.4372,576.20
    Total Income Growth (%)40.9966.20-48.32-13.129.79
    Total Expenses70,072.4753,033.1736,896.5170,417.5769,482.69
    Total Expenses Growth (%)32.1343.73-47.601.359.17
    EBIT6,293.321,130.05-4,306.92-7,360.143,093.51
    EBIT Growth (%)456.91---337.9225.93
    Profit after Tax (PAT)2,906.45-314.45-8,437.99-9,894.251,738.30
    PAT Growth (%)----669.19-
    EBIT Margin (%)8.242.09-13.22-11.674.26
    Net Profit Margin (%)3.81-0.58-25.89-15.692.40
    Basic EPS (₹)8.07-0.87-23.46-27.505.02
    Dec 2020Sep 2020Jun 2020Mar 2020Dec 2019
    Total Income14,837.259,910.082,821.2010,001.7911,194.42
    Total Income Growth (%)49.72251.27-71.79-10.658.03
    Total Expenses14,781.5710,487.464,458.6614,230.5711,739.73
    Total Expenses Growth (%)40.95135.22-68.6721.225.44
    EBIT55.68-577.38-1,637.46-4,228.78-545.31
    EBIT Growth (%)-----
    Profit after Tax (PAT)-638.04-1,212.45-2,190.64-4,871.05-1,039.51
    PAT Growth (%)-----
    EBIT Margin (%)0.38-5.83-58.04-42.28-4.87
    Net Profit Margin (%)-4.30-12.23-77.65-48.70-9.29
    Basic EPS (₹)-1.77-3.37-6.09-13.54-3.01
    FY 2020FY 2019FY 2018FY 2017FY 2016
    Total Revenue2,64,041.123,04,903.712,95,508.072,70,447.052,73,930.95
    Total Revenue Growth (%)-13.403.189.27-1.273.88
    Total Expenses2,71,749.663,06,623.302,86,328.182,62,246.822,57,954.83
    Total Expenses Growth (%)-11.377.099.181.666.68
    Profit after Tax (PAT)-12,070.85-28,826.238,988.917,454.3611,579.31
    PAT Growth (%)--420.6920.59-35.62-17.21
    Operating Profit Margin (%)-0.171.334.704.617.64
    Net Profit Margin (%)-4.62-9.543.052.764.24
    Basic EPS (₹)-34.88-84.8926.4621.9434.25
    FY 2020FY 2019FY 2018FY 2017FY 2016
    Total Revenue45,311.2271,757.4260,389.0145,297.4044,247.78
    Total Revenue Growth (%)-36.8618.8333.322.3715.90
    Total Expenses49,927.6469,155.4260,369.2747,311.9643,820.13
    Total Expenses Growth (%)-27.8014.5527.607.974.97
    Profit after Tax (PAT)-7,289.632,020.60-1,034.85-2,429.60-62.30
    PAT Growth (%)-460.77----
    Operating Profit Margin (%)-6.016.352.99-1.004.71
    Net Profit Margin (%)-16.592.91-1.75-5.48-0.14
    Basic EPS (₹)-21.065.94-3.05-7.15-0.18

    All figures in Rs Cr, unless mentioned otherwise

    Insights

    • PAT: Entering the Green

      Company has posted a profit of Rs 2906.45 cr in Dec 31, 2020 quarter after 3 consecutive quarter of losses. (Source: Consolidated Financials)

    • Topline Contraction

      Sales de-grew by 13.4%. Company witnessed revenue contraction for the first time in last 3 years. (Source: Consolidated Financials)
  • AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Total Assets3,22,121.263,07,194.533,31,350.512,73,754.362,67,141.15
    Total Assets Growth (%)4.86-7.2921.042.4811.93
    Total Liabilities2,58,229.172,46,491.912,35,397.542,15,239.301,87,755.90
    Total Liabilities Growth (%)4.764.719.3714.643.18
    Total Equity63,892.0960,702.6295,952.9758,515.0679,385.25
    Total Equity Growth (%)5.25-36.7463.98-26.2940.02
    Current Ratio (x)0.850.850.951.001.03
    Total Debt to Equity (x)1.581.510.821.280.78
    Contingent Liabilities15,590.7517,148.6415,431.4624,214.5343,504.88
    AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Total Assets62,589.8760,909.6359,212.3058,878.2856,676.00
    Total Assets Growth (%)2.762.870.573.8913.48
    Total Liabilities44,202.2238,747.1139,041.3237,715.6733,413.89
    Total Liabilities Growth (%)14.08-0.753.5112.87-4.75
    Total Equity18,387.6522,162.5220,170.9821,162.6123,262.11
    Total Equity Growth (%)-17.039.87-4.69-9.0356.51
    Current Ratio (x)0.530.580.620.590.63
    Total Debt to Equity (x)1.140.790.810.890.61
    Contingent Liabilities4,737.197,246.045,269.634,787.17-

    All figures in Rs Cr, unless mentioned otherwise

  • AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Net Cash flow from Operating Activities26,632.9418,890.7523,857.4230,199.2537,899.54
    Net Cash used in Investing Activities-34,170.22-19,711.09-26,201.61-38,079.88-37,504.43
    Net Cash flow from Financing Activities3,389.618,830.372,011.716,205.30-3,795.12
    Net Cash Flow-3,092.006,843.05973.93-3,166.85-2,589.48
    Closing Cash & Cash Equivalent18,467.8021,559.8014,716.7513,986.7617,153.61
    Closing Cash & Cash Equivalent Growth (%)-14.3446.505.22-18.46-18.81
    Total Debt/ CFO (x)3.744.823.272.471.63
    AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Net Cash flow from Operating Activities-1,454.596,292.634,133.941,453.452,702.98
    Net Cash used in Investing Activities-4,718.86-3,820.55-710.27-2,859.00-3,264.22
    Net Cash flow from Financing Activities7,749.21-2,529.70-3,105.631,208.80-78.87
    Net Cash Flow1,657.90-59.42317.88-198.13-639.40
    Closing Cash & Cash Equivalent2,145.30487.40546.82228.94427.07
    Closing Cash & Cash Equivalent Growth (%)340.15-10.87138.85-46.39-50.45
    Total Debt/ CFO (x)-14.372.793.9312.975.27

    All figures in Rs Cr, unless mentioned otherwise

    Insights

    • Increase in Cash from Investing

      Company has used Rs 34170.22 cr for investing activities which is an YoY increase of 73.36%. (Source: Consolidated Financials)
  • AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Return on Equity (%)-19.13-47.909.4112.8314.66
    Return on Capital Employed (%)-0.252.497.367.8613.03
    Return on Assets (%)-3.74-9.382.712.724.33
    Interest Coverage Ratio (x)-0.060.702.962.934.27
    Asset Turnover Ratio (x)81.0498.2888.9198.51102.21
    Price to Earnings (x)-2.12-2.0512.3821.2311.34
    Price to Book (x)0.410.981.172.731.66
    EV/EBITDA (x)4.404.274.386.504.34
    EBITDA Margin (%)8.029.1512.0211.2513.76
    AnnualFY 2020FY 2019FY 2018FY 2017FY 2016
    Return on Equity (%)-39.649.11-5.13-11.48-0.26
    Return on Capital Employed (%)-7.1811.575.04-1.195.31
    Return on Assets (%)-11.643.31-1.74-4.12-0.10
    Interest Coverage Ratio (x)-1.342.451.01-0.281.27
    Asset Turnover Ratio (x)70.18113.6199.3575.2675.59
    Price to Earnings (x)-3.5129.33-107.53-65.36-2,500.00
    Price to Book (x)1.392.675.517.485.64
    EV/EBITDA (x)58.6510.0626.0368.2133.26
    EBITDA Margin (%)1.6610.828.275.8410.15

Found Financials useful?

Technicals

  • 5 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 23 Feb 2021

    5D EMA: 318.80

    Last Signal 1 Feb 2021 (Gain 22.28%)

    Average price gain of 4.34% within 7 days of Bullish signal in last 5 years

    10 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 23 Feb 2021

    10D EMA: 319.10

    Last Signal 1 Feb 2021 (Gain 22.28%)

    Average price gain of 4.59% within 7 days of Bullish signal in last 5 years

    14 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 23 Feb 2021

    14D EMA: 315.87

    Last Signal 24 Dec 2020 (Gain 7.10%)

    Average price gain of 4.42% within 7 days of Bullish signal in last 5 years

    20 Day EMA Crossover

    Bullish signal on daily chart

    Appeared on: 23 Feb 2021

    20D EMA: 307.99

    Last Signal 24 Dec 2020 (Gain 7.10%)

    Average price gain of 4.61% within 7 days of Bullish signal in last 5 years

    Stochastic Crossover

    Bullish signal on weekly chart

    Appeared on: 19 Feb 2021

    Region: Overbought (Above 80)

    Last Signal 1 Jan 2021 (Gain 64.56%)

    Average price gain of 9.70% within 7 weeks of Bullish signal in last 10 years

  • 45%
    Positive Movement
    since 1st Jan 2005
    on basis
    55%
    Negative Movement
    since 1st Jan 2005
    on basis
    Exclude

    Global Meltdown1st Jan 2008 to 10th Nov 2008

    Covid Crisis1st Feb 2020 to 31st Mar 2020

  • R1327.48Pivot

    325.37

    		S1323.03
    R2329.82S2320.92
    R3334.27S3316.47
  • 5 Days14 Days28 Days
    13.5815.0013.76

Found Technicals useful?

Peers

  • NAMEP/E (x)P/B (x)ROE %ROCE %ROA %Rev CAGR [3Yr]OPMNPMBasic EPSCurrent RatioTotal Debt/ Equity (x)Total Debt/ CFO (x)
    Tata Motors-7.031.73-19.13-0.25-3.74-0.79-0.17-4.20-34.880.851.583.74
    Maruti Suzuki46.824.2411.4813.608.923.899.407.34187.950.750.000.03
    M&M-180.312.240.317.650.074.399.08-1.43-1.151.191.56-43.09
    Ashok Leyland-77.044.334.3211.100.88-1.3711.802.081.151.032.0742.15
    Force Motors-27.320.892.555.351.61-0.333.801.8938.081.130.120.57
    Add More
    Annual Ratios (%)

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          Insights

          • Stock Returns vs Nifty 100

            Stock gave a 3 year return of -10.7% as compared to Nifty 100 which gave a return of 36.33%. (as of last trading session)

          • Stock Returns vs Nifty Auto

            Stock generated -10.7% return as compared to Nifty Auto which gave investors -5.74% return over 3 year time period. (as of last trading session)

          Found Peer Comparison useful?

          Shareholding Patterns

          • CategoryNo. of SharesPercentage% Change QoQ
            Promoters1,30,95,51,13842.39 %0.00
            Pledge5,17,29,0003.95 %0.00
            FII48,20,70,79715.61 %-0.23
            DII38,81,66,69812.55 %-0.50
            MF15,80,00,9665.11 %-0.49
            Others90,91,85,26129.45 %0.73
          • Category31 Dec 202030 Sep 202030 Jun 202031 Mar 2020
            Promoters42.3942.3942.3942.39
            Pledge3.953.953.953.95
            FII15.6115.8415.6216.84
            DII12.5513.0513.2313.42
            Mutual Funds5.115.606.216.14
            Others29.4528.7228.7627.35

          Mutual Funds Ownership

          MF Ownership as on 31 January 2021

          • Equity: Large Cap

            • 707.91

              Amount Invested (in Cr.)

            • 0.8%

              % of AUM

            • 1.40

              % Change (MoM basis)

          • Equity: Flexi Cap
            2

            • 413.36

              Amount Invested (in Cr.)

            • 1.95%

              % of AUM

            • 135.62

              % Change (MoM basis)

          • Equity: Large Cap
            2

            • 372.86

              Amount Invested (in Cr.)

            • 2.1%

              % of AUM

            • 238.47

              % Change (MoM basis)

          More Schemes

          Futures & Options

            • Type
            • Expiry Month
            • Strike Price
            DatePrice

            27-09-2020Current

            0.00-62.35 (-100.00%)

            0.00
            Open
            0.00
            High
            0.00
            Low
            62.35
            Close
            0
            Contracts Traded
            0.00
            Turnover (₹ Lakhs)
            • Expiry Month
            DatePrice

            27-09-2020Current

            325.554.00 (1.24%)

            323.90
            Open
            329.05
            High
            323.40
            Low
            321.55
            Prev Close
            11,599
            Contracts Traded
            1,13,512.71
            Turnover (₹ Lakhs)

          Top Searches

            Corporate Actions

            • Board Meeting

              Quarterly Results

              Oct 08, 2020

              Board Meeting

              Quarterly Results

              Jul 28, 2020

              General Meeting

              -

              Jun 30, 2020

            • Announced onMeeting on
              Oct 08, 2020Oct 27, 2020
              Quarterly Results
              Jul 28, 2020Jul 31, 2020
              Quarterly Results
              May 29, 2020Jun 15, 2020
              Audited Results
              Jan 22, 2020Jan 30, 2020
              Quarterly Results
              Oct 18, 2019Oct 25, 2019
              Quarterly Results & Others
            • Announced onEx-DateDividend%
              May 30, 2016Jul 18, 201610%
              May 29, 2014Jul 09, 2014100%
              May 29, 2013Jul 30, 2013100%
              May 29, 2012Jul 18, 2012200%
              May 26, 2011Jul 19, 2011200%
            • Announced onEx-Date
              Sep 28, 1995Oct 04, 1995
              Bonus Ratio: 3 share(s) for every 5 shares held
              Apr 29, 1982-
              Bonus Ratio: 2 share(s) for every 5 shares held
              Apr 29, 1979-
              Bonus Ratio: 2 share(s) for every 5 shares held
              Apr 29, 1977-
              Bonus Ratio: 1 share(s) for every 5 shares held
            • Announced onEx-Date
              May 26, 2011Sep 12, 2011
              Split: Old FV10.0| New FV:2.0
              Jan 03, 1996-
              Split: Old FV100.0| New FV:10.0
            • Announced onEx-Date
              Jan 27, 2015Apr 06, 2015
              Rights ratio: 6 share for every 109 held at a price of Rs 450.0
              May 29, 2008Sep 09, 2008
              Rights ratio: 1 share for every 6 held at a price of Rs 305.0
              May 28, 2008Sep 09, 2008
              Rights ratio: 1 share for every 6 held at a price of Rs 340.0
              Jun 15, 2001Aug 29, 2001
              NA
            • Announced onMeeting on
              Jun 30, 2020Aug 25, 2020
              (Revised)
              Jun 30, 2020Aug 11, 2020
              -
              Jun 29, 2019Jul 30, 2019
              -
              Jun 28, 2019Jul 30, 2019
              -
              Jun 15, 2018Aug 03, 2018
              -

            About

            Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 110,665.86 Crore) operating in Auto sector.

            Tata Motors Ltd. key Products/Revenue Segments include Motor Vehicles, Spare Parts & Others, Miscellaneous Goods, Sale of services and Other Operating Revenue for the year ending 31-Mar-2020.

            For the quarter ended 31-12-2020, the company has reported a Consolidated Total Income of Rs 76,365.79 Crore, up 40.99 % from last quarter Total Income of Rs 54,163.22 Crore and up 5.22 % from last year same quarter Total Income of Rs 72,576.20 Crore. Company has reported net profit after tax of Rs 3,222.21 Crore in latest quarter.

            The company’s top management includes Mr.Ratan N Tata, Mr.N Chandrasekaran, Mr.Guenter Butschek, Dr.Ralf Speth, Mr.Om Prakash Bhatt, Ms.Hanne Sorensen, Ms.Vedika Bhandarkar. Company has BSR & Co. LLP as its auditors. As on 06-02-2021, the company has a total of 332.03 Crore shares outstanding.

            About Tata Motors

            Tata Motors Ltd., incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 110,665.86 Crore) operating in Auto sector. Show More

            Industry

            Auto - Cars/UV/CV

            Key Indices Listed On

            Nifty 50, Nifty 100, Nifty 200, Nifty 500, S&P BSE 500

            Address

            Bombay House,24, Homi Mody Street,Mumbai, Maharashtra - 400001

            Contact

            inv_rel@tatamotors.com

            http://www.tatamotors.com

            Executive Leadership

            GB

            Guenter Butschek

            Managing Director & CEO
            HK

            H K Sethna

            Co. Secretary & Compl. Officer
            HS

            Hanne Sorensen

            Ind. Non-Executive Director
            NC

            N Chandrasekaran

            Chairman & Non-Exe.Director
            Show More

            Auditors

            BSR & Co. LLP

            Tata Motors Share Price Update

            Tata Motors Ltd. share price moved up by 3.58% from its previous close of Rs 321.65. Tata Motors Ltd. stock last traded price is 333.15

            Share PriceValue
            Today/Current/Last333.15
            Previous Day321.65

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            Key Metrics

            • This is a ratio arrived at by dividing the current market price of a stock by its latest (annual or annualized) earnings per share. Here we have taken the TTM (trailing twelve months) adjusted earnings per share.

            • Earnings per share (TTM) tells the profit after tax earned on a per share basis by a stock over the last twelve months or four quarters.

            • MCap or Market capitalization of a stock is calculated by multiplying the total number of shares outstanding of that particular stock with its current market price.

            • This is the ranking of a company within its sector based on MCap or Market capitalization. Higher the market capitalization of a company, higher the rank it is assigned.

            • Price to Book represents the ratio of current market price of a stock to its book value per share. The book value itself is arrived at by dividing the net worth of a company by the total number of shares outstanding of the company at that time.

            • Dividend Yield calculates the amount of full year dividend declared by a company as a percentage of the current market price of a stock. All other things being equal, higher the dividend yield of the stock, the better it is for investors.

            • Face value of a stock is the value ascribed to the stock as per the balance sheet of the company. The dividend declared by a company is usually declared as a percentage of face value.

            • Beta (β) is a measure of systematic risk. It describes the responsiveness of a stock to fluctuations in the market. Beta coefficient of more than 1 denotes that a security is more volatile than its benchmark and less than 0 signifies that security return is not correlated to market movement.

            • Volume Weighted Average Price represents the average price of a security over a particular time period (example one trading day) weighted by the volume traded at each price point.

            • This represents the 52 week high and low price of the security. It is also the 1 year high and low of the security. This represents the highest and lowest price touched by the security during the past 52 weeks or 1 year including today.

            • Book value represents the value arrived at by subtracting the total liabilities from the total assets of the company. On dividing this value with the total number of shares outstanding for the company, we can arrive at book value per share. Book value is also known as Net Asset Value of a company.

            • This is a ratio of market capitalisation of a company’s stock to its annual sales. The market capitalization here is taken for the fully paid-up equity share of the company.

            Technicals

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              Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

            • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

              Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

            • Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

              Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

            • Pivot points are indicative support and resistance levels which are calculated on basis of previous day’s high, low and closing prices. Pivot level for Monday’s trade would be based on Friday’s prices and Monday’s, high, low and close price would go into calculation of pivot levels for Tuesday’s trading session.

              There are two underlying assumptions in pivot points. First, the specific price level indicated by R1, R2 and R3 may act as a barrier or resistance in an uptrend. So, if a stock moves up above these pivots levels, the uptrend gets confirmed. Second these specific price levels may see an increased activity, hence may be used as levels to book profit by traders with a long positions. For traders with short position, these points are often helpful in determining what should be the stop loss for a trade.

              Similarly, in case of support levels as indicated by S1, S2 and S3, they may act as price level where a stock might get a breather when it is slipping southward. In case these supports levels are broken it is a confirmation of a down trend. The stock may also see increased activity close to pivot levels. They may be used by trader may use them to put stop loss for a long trade. If a trader has short position, the pivot level may help in determine a level, where profit may be booked.

              Like any other technical indicator, pivots levels cannot and should not be used as single factor while taking a trading decision. They should be combined with other technical indicators. It could be short term moving averages, stochastic, moving average convergence divergence (MACD) or overbought level as indicated by relative strength index (RSI). For example, if a breakdown of support level (S1, S2 or S3) is accompanied with stock price also moving below its short term moving average or stochastic on daily charts giving a sell signal, it would add to weightage to the decision of taking a short trade.