TVSMOTOR
Stock -> TVS Motor
TimeFrame -> Weekly
Hello all!
TVS motor has been moving in a channel since April 2020. It came back to its lower trendline, took support, bounced back, and broke its earlier swing high with decent volumes, making for a good opportunity to go long!
There are other indications that strengthen my conviction:
1) Support from both daily and weekly 50 EMA
2)Support 200 EMA in daily timeframe
3)Breaking of the neckline of inverse Head and Shoulder pattern.
Theoretically, going by the breakout of the inverse head and shoulder pattern, the target should be the equivalent of the distance of the neck from the shoulder which comes out to be around 110 points. But since the markets have been extremely jittery and volatile these past months, its advised to keep trailing your stop-loss.
*NOT A CALL*