- the stock is facing resistance near the levels of 520-525
- One it decisively breaks-out, 525, it can be bought with the target of 570-75 levels.
- Although MACD is converging and RSI also entering overbought zones, it indicates the breakout is not coming any time sooner
- The volume is also disappearing, hence if breakdown for 515 levels, the next target...
Buy Tvsmotors with a SL of 478 for targets of 493/498. Suggested to buy on a dip for a better risk/reward ratio. Do not take this trade if it opens above 491.
Adjust trading volumes as per entry price.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or...
TVS motor has presented us a very juicy shorting opportunity. On weekly, it has broken a wedge formation. On daily a flag formation has been broken. SO pressure is on the downside. As the broader market is also plummeting, there is a high probability of TVS motors to reach its target and beyond.
TVSMOTOR is now trading right at channel upperband and showing strength to go up. It should cross 558 with good volume for move towards 600-610. Options would be better choice with SL being blue trendline closure.