Kalyan_Mukherjee

Bearish RSI Divergence in TVS Motors

NSE:TVSMOTOR   TVS MOTOR CO
After a bull run from the price level of 1331 to 2100, TVS Motors is now consolidating in a narrow range and still could not break the support price of 1930 on daily chart. However, the RSI indicator is continuously declining from the over bought zone to the Middle band. These types of contradictory behavior between chart and RSI indicates a probable downward movement of price in near future. A good trade is only possible if the stock breaks the immediate support of 1930.

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