Reason(s) for Trade:
Bullish Engulfing candle on Trend-line support
RSI positive divergence
Buy if goes above 18.25
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MOMENTUM TRADE IN TVS MOTORS
:-RISE IN OI+RISE IN PRICE INDICATES LONG BUILT-UP
:-BULLISH ENGULFING VISIBLE ON DAILY CHARTS
:-200-DMA IS TAKEN OUT AFTER A VERY LONG TIME
TRADE IN FUTURES 28TH NOV 2019
LEVELS ARE ACCORDING TO SPOT PLEASE ADJUST FOR FUTURE PRICES
ALTHOUGH REAL OI DATA WILL BE AVAILABLE...
The stock has formed 3 Drives on Bottom pattern and is in deep oversold zone. It has formed bullish engulfing showing a potential reversal therefore one can go long at this level with the recent low as Stop Loss. One can expect the 68 as target. It offers a healthy risk to reward ratio of 3. The defensive trader should wait and enter once it starts trading above...
After a steep fall of 3 months, looks like Ashok LeylandNSE:ASHOKLEY has resumed its upward journey from August.
I can see that the stock has reversed from its long term trendline forming a Bullish Engulfing candle.
Also, it has reversed after retracing 61.8% of its previous upmove.
Good stock to accumulate with a stop loss below 110 levels.