Cyber Monday saleUp to 70% OFF

Ascendingtriangletrading

TVSMOTOR Analysis!TVSMOTOR Analysis on Daily Timeframe! Ascending Triangle Pattern in TVSMOTOR! Resistance Breakout in TVSMOTOR! TVSMOTOR has made an Ascending Triangle Pattern on Daily Timeframe. It has given a decent gap up breakout to it's resistance trendline before that price is making Higher Low's and formed an Ascending Triangle Pattern. TVSMOTOR tasted it's resistance about 2 times but couldn't break it. Today it has given breakout to it's resistance. As TVSMOTOR trading about All Time High so for price forecasting I have applied Fib Retracement from it's recent high to recent low and now we have our upside levels. These fib levels we can consider as our upside targets as well as resistances. Also TVSMOTOR has taken a good support at 50EMA and now trading above it so we can expect the price will go upwards. Trade Psychology and Setup = 1190 after retesting Entry = One can enter after Retesting Target = Projected Target Will be 1696.65 and Fib Levels Stop Loss = Below 1142.60 Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4)Don't trade with full capital
NSE:TVSMOTORLong
by Avinash9087
2
TVS Motors-Ascending triangle with breakoutTVS Motors daily as well as weekly chart shows ascending triangle pattern. Ascending triangle is about to breakout which will ensure further up move. High volume can also be seen in the chart. So high volume with breakout will show further up move. Can buy at cmp(499) with a stop loss of 465 or can buy when the daily closing is above 520 for further up move. It can also be accumulated in dips. Can go long with a trailing stop loss. Technical target is 748. Note: I am just a beginner. This chart is for learning and educational purpose only. Kindly invest based on your research and analysis. Do not forget to give a like if you find this chart helpful. Happy investing :)
NSE:TVSMOTORLong
by Vishakha_Nanavaty
4