May 5, 2017 / 7:26 AM / 3 months ago

BUZZ-India's Tata Motors hits near 1-yr low, technicals suggest further downside

** Tata Motors falls as much as 4.12 pct to 418.5 rupees, its lowest since May 30, 2016

** Stock breaks support at 432 rupees, the 50 pct Fibonacci retracement level of uptrend from Feb. 2016 low of 265.8 rupees to Sep 2016 high of 598.4 rupees. tmsnrt.rs/2pfqyi3

** Trend Intensity Indicator (TI) rises to 18 after forming higher lows, indicating start of a new downtrend

** MACD is also negative and below its signal line, negative for the stock

** Stock is down 7.5 pct this year as of Thursday's close, compared with 14.44 pct gains for the NSE index

RM: gaurav.dogra.thomsonreuters.com@reuters.net

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