August 30, 2013

TATA Motors Triangle update

  • Tata Motors weekly chart is testing the resistance line of the triangle. Last breakout was not successful. Breakout on closing basis this time and a move above 315 - 320 levels may give a bigger up move for the stock.
  • Weakness here may take price back towards the weekly cloud. Weekly cloud is acting as strong support for the stock. Holding above the cloud price is likely to move higher.

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