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TVS MOTOR ASCENDING WEDGE BREAKOUT TRADE - BUY

Long
TVS MOTOR CO (NSE:TVSMOTOR)  
peace_lover Updated   
NSE:TVSMOTOR   TVS MOTOR CO
Trend Analysis Chart Patterns Wedge TVSMOTOR breakout trading tradingsignals tradingpatterns tradingplans Technical Analysis
10
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trendanalysis chartpattern wedgepattern tvsmotor breakout trading tradingsignals tradingpatterns tradingplans technicalanalysis
  • TVS Motors have formed an ascending wedge pattern on the daily timeframe with 2 contact points above and 3 contact points below

  • Yesterday it has broken out of the pattern with gap-up which acts as a very strong confirmation of the success of the trade

  • Although no volume surge is present but RSI is present in OVERBOUGHT zone indicating that the momentum is very strong for the stock right now which in turn is a boon for the stock which would give the push for the stock to rise

  • TP is set as the width of the chart pattern at the place of the first contact point
Trade closed: target reached:
The exact TP has been reached by TVS motor yesterday and hence trade has been closed
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