PPR - Tata Motors Ltd. (TTM) Pkt Pivot on September 3rd - TTM

Published : September 9 2010 at 15:26 ET

Tata Motors Ltd. (TTM) is looking good to us right here as it flashed a pocket pivot buy point four days ago, as we see on the daily chart below, and has held in very tight over the past three days, including today. The Indian market has held up well and has actually been hitting new highs as it outperforms the more established European, Asian, and U.S. stock markets. Worldwide, auto sales are expected to increase despite the soft markets in more developed countries like the U.S. India is also outpacing China, Russia, and other developing countries. With all this as a backdrop, we like TTM right here, using the 50-day moving average as your guide for a stop.

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