Tata Motors Passenger Vehicles Ltd Falls 2.66%: 5 Key Factors Behind the Weekly Volatility

Monday, 19 January 2026: Intraday Low and Bearish Put Option Activity

On Monday, TMPV faced significant selling pressure, closing at Rs.343.90, down 2.74% from the previous close. The stock touched an intraday low of Rs.343.05, just 2.86% above its 52-week low of Rs.335.30, highlighting proximity to a critical support level. This decline was sharper than the Sensex’s 0.49% fall, reflecting sector-specific weakness amid broader market volatility.

Adding to the bearish tone, TMPV emerged as the most actively traded stock in the put options segment, with nearly 25,722 contracts traded at strike prices near the current market level (₹330, ₹335, ₹340). The highest volume was at the ₹340 strike with 9,925 contracts, indicating strong investor hedging or bearish speculation ahead of the 27 January expiry. The stock’s technical position remained weak, trading below all major moving averages, signalling sustained downward momentum.

Tuesday, 20 January 2026: Continued Downtrend Amid Market Weakness

The stock extended its losses on Tuesday, closing at Rs.337.85, down 1.76%. This underperformance coincided with a sharp Sensex decline of 1.82%, reflecting a risk-off environment. Volume dropped significantly to 442,493 shares, suggesting reduced investor participation amid ongoing uncertainty. The technical downtrend persisted, with the stock remaining below key moving averages and near its 52-week low.

Wednesday, 21 January 2026: Modest Recovery Amid Mixed Sentiment

Wednesday saw a slight rebound as TMPV closed at Rs.339.15, up 0.38%. This modest gain came despite the Sensex falling 0.47%, indicating some stock-specific buying interest. Delivery volumes remained robust, though slightly below recent highs. The stock remained below its longer-term moving averages but managed to trade above the 5-day average, hinting at short-term technical support.

Thursday, 22 January 2026: Intraday High and Put Option Surge

Thursday marked the week’s most notable positive move, with TMPV surging 3.38% to close at Rs.347.30 and touching an intraday high of Rs.350.75. This 3.3% intraday gain outpaced the Sensex’s 0.76% rise and the automobile sector’s performance, signalling a brief bullish momentum. The stock’s price moved above its 5-day moving average, though it remained below longer-term averages, indicating resistance ahead.

Despite this rally, put option activity intensified, with 3,883 contracts traded at the ₹340 strike price, reflecting ongoing hedging or bearish speculation ahead of the 27 January expiry. The stock’s position just above this strike price suggests investors are cautious, balancing short-term gains against potential downside risks.

Friday, 23 January 2026: Open Interest Surge Amid Bearish Momentum

On Friday, TMPV closed at Rs.344.20, down 0.89%, reversing some of Thursday’s gains. The stock remained below all major moving averages and close to its 52-week low, signalling persistent technical weakness. Notably, open interest in derivatives surged by 10.01%, with fresh positions being established amid bearish sentiment. Futures volume was robust at 1,60,485 contracts, and options trading dominated the derivatives landscape, indicating complex hedging and speculative strategies.

Delivery volumes declined by 11.93%, suggesting waning retail participation despite active derivatives trading. The stock marginally outperformed its sector but underperformed the Sensex on the day, reflecting mixed market dynamics. The Mojo Score remained low at 36.0 with a Sell grade, reinforcing the cautious outlook.

Daily Price Comparison: Tata Motors Passenger Vehicles Ltd vs Sensex

Key Takeaways

1. Persistent Technical Weakness: The stock traded below all major moving averages throughout the week, signalling sustained downward pressure despite short-term rallies.

2. Bearish Derivatives Activity: Heavy put option volumes and a 10.01% surge in open interest indicate strong hedging and bearish positioning ahead of the 27 January expiry.

3. Intraday Volatility and Mixed Momentum: The stock experienced significant intraday swings, including a 3.3% surge on 22 January, but failed to sustain gains, closing the week lower.

4. Relative Outperformance vs Sensex: Despite the 2.66% weekly decline, TMPV outperformed the Sensex’s 3.31% fall, reflecting some resilience amid sector and market headwinds.

5. Low Mojo Score and Sell Rating: The continued Sell grade and low Mojo Score of 36.0 reflect cautious analyst sentiment and weak fundamentals.

Conclusion

The week for Tata Motors Passenger Vehicles Ltd was characterised by volatility and a tug-of-war between bearish sentiment and short-term bullish bursts. Heavy put option activity and a significant rise in open interest underscore investor caution and hedging strategies amid a challenging technical backdrop. While the stock marginally outperformed the Sensex’s decline, it remains close to its 52-week low and below key moving averages, signalling ongoing headwinds. The Sell rating and low Mojo Score reinforce a cautious stance, suggesting that investors should closely monitor price action and derivatives positioning as the 27 January expiry approaches. Overall, the week’s developments highlight a complex market environment with mixed signals for this large-cap automobile stock.

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