TVS MOTOR - Counter Trade Setup on Channel

As observed on daily chart , the price action is been trending up in an uptrend channel . Now the price action has reached out to the upper trendline or resistance line of the channel where we could see selling. This shall retrace the prices again and will be counted as a counter reversal trade.

Target: 360
Stoploss: 386
Risk Reward: 1-5
I agree. I have short position at 382
+1 Reply
Just maintain Stoploss of 386-390 anything above that is continue of the trend and breakout from the trending channel. Good Luck. Regards
shbhatt NeeteshJain
Yep. Will do same. not sure why my and yours idea match this time. I have also short position in Sunpharma @ 768 with sl 774. now @ 763.65. I have long on tech Mehindra @ 426 sl yesterday;s swing low.
+1 Reply
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