NeeteshJain

TVS Motor at Shorting Levels

Short
NSE:TVSMOTOR   TVS MOTOR CO
The price action just filled the previous gap down space and now indicating weakness due to long upper wick. The last candlestick that had long upper wick also known as Gravestone Doji , a trend reversal pattern, that suggests rejection of higher prices. It is wise to short at current levels with stoploss.

Target 1: 309

Target 2: 301

Stoploss: 332
Trade active: Increase positions, it shall reach to 309 levels in 2-3 days.

Comments

Since market is reversed, Should I hold this position?
+1 Reply
NeeteshJain leewongavatar
Yes, just maintain the stoploss and continue holding it to achieve target 1
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