Tata Communications shows seller exhaustion near ₹1,650

has formed a bullish engulfing candle after a steady decline, closing at ₹1,683 from an intraday low of ₹1,617. The candle has appeared near the September swing-low zone, making it a meaningful attempt by buyers to arrest the fall. The moving averages add an important layer to this setup. The 20-day moving average at ₹1,722.89 has flattened after declining earlier, while the 55-day moving average at ₹1,734.23 is still sloping down. This tells us the short-term bearish phase may be losing force, but the broader corrective trend has not yet reversed. The ₹1,723 to ₹1,734 band is therefore more than simple resistance. It is the point where price must reclaim both the flat 20-day average and the falling 55-day average. If that happens, the current bearish contraction can develop into a recovery towards ₹1,760. If price fails below this band, the engulfing candle may remain only a temporary bounce. MACD is still below its signal line and below zero, so momentum has not yet confirmed the reversal. For now, price action is leading the indicator. Tata Communications operates in enterprise connectivity, cloud, cybersecurity and digital infrastructure. Its embedded-5G collaboration with Tata Motors Passenger Vehicles for the Sierra ev adds another application for its connected-vehicle platform.