ABCD pattern in Nifty Monthly Chart and RSI overbought on monthly chart.
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.
The stock has corrected enough and has finally taken support at its previous support. Enter it by either shorting 1150 PE or go long with futures and use trail stop loss. For pharma stocks, its best to back check its fundamentals along with technicals