TVS Motor: Analysis

Umang_Sharma Updated   
Keep an eye on TVS Motor it was in parallel range since start of September. Expecting a breakout after a possible retracement. Buying level will be above 471.00.
Reason to buy:
1) Moving up with good volume since 3 days. If this momentum continues their will be a breakout soon. Bollinger bands showing good volume as well.
2) Above 200 MA line shows uptrend.
3) Holding Higher levels.
Stop-loss must be below the previous immediate swing levels. RR ratio must be calculated and traded accordingly.
Possibility of a retracement. Market sentiment is negative.
Trade active:
Half Quantity Inn.
Trade active:
Possible retracement. Looking for next entry point to unload another half.
Trade active:
Another half unloaded @ 473.00. SL @ 463.00.
Trade closed manually:
@ 478.55. Again Range-Bound.

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