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Tata Motors At Major Resistance Plus Topping Tail

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February 15, 2012 – Comments (0) | RELATED TICKERS: TTM

Tata Motors Limited (NYSE:TTM) has had an epic move higher since the new year. On the last trading day of 2011, Tata Motors closed at $16.90. The high of today was $28.74. When finding a good short opportunity, a pro trader must look at the daily chart and find the best resistance point. This level is clearly between $28.75 and $29.00. In other words, this level has been tagged as of today. In addition, there is a topping tail forming on the daily chart. A topping tail is a great short signal.

Gareth Soloway
InTheMoneyStocks.com

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