mahhisingh

tvs motors simple support resistance

Long
NSE:TVSMOTOR   TVS MOTOR CO
186 views
2
price come down to support zone (530-525) & it spend time at this zone at least one week and if we see any engulfing green candle then we go for long
stop loss at last swing 502 target is 650 & entry =540 to 555
stop loss =20-25 rupees & target =100 rupees so RR will be 1;4

DONT FORGET TO PUT STOPLOSS BECAUSE IT SAVE US TO BIG DRAW DOWN

loss must be around 4-5% & if you have strong belief on ur analysis then it will be 8%
if it is going below your line take your loss it will recovered in upcoming good trades
Because 10% loss requires 11% gain, 20% loss require 25%gain, 50% loss require 100% gain & 90% loss requires 900% gain to get back break even.
managing the down side is more important than upside

Comments

As you said earlier. Now one green engulfing candle is required to enter.
Reply
mahhisingh deepikaachugatla
@deepikaachugatla, ya, but it should have to be consolidate near support zone then engulfing candle will work
Reply
your analysis is working.. good keep it up.
Reply
mahhisingh achu.shanker
@achu.shanker, thanks for kind words
Now strong confirmation is there because of supply checking at price 502 & got back and closing in support zone 16 aug (9;15)
Reply