Friday, January 20, 2012

Tata Motors

                                                                               Daily chart (click on chart to zoom)

 Today Tata Motors formed double top spin on daily chart which indicates short term trend reversal. Stock is now trading in overbought zone due to huge run up in last few trading sessions. It should correct in short term and touch 208 in short term.
Stop loss should be at 224
Today's closing price is 219.