Description
⋅ Positive News - Innocent investors entering in hope of quick gain.
TVSMOTORS denies the news and it closes near low.
AGAIN OUR INNOCENT INVESTORS SUFFERS!!
Do not trade on news, Do check our other ideas ' STOCK MARKET MYTHS' series.
1. Major Support - 670.
Major Resistance - 800.
2. Past Trend - Up, tested Major Resistance zone
800 on news. However ended negative.
3. Future trend - If sustains below 720 then 700
and 670 levels as sentiment turns negative.
Possible Trades -
1. SHORT - if it sustains below 726, watch for 720, if sustains below 720 too then hold for 700 and below levels.
2. LONG - Buy above 730 If breaks 720 then reverses. Target - 740, 750, 760.