tvs motor sideway channel

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TVS motor retraced from its support level ( green line) to reach the top of resistance level (red line), if the breakout occurs it can be bought with a stoploss at the exit price of channel i.e. the previous resistance with a risk reward ratio of 1:2 with tsl , if breakout does not occur it can be shorted for a target till 61.8% retracement level.
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