TVS Motor Company Limited : Motorcycle Company ( NSE:TVSMOTOR ) is Making Descending Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this...
Long TVS Motor BO of TL above the level of 448 TGT 475-485 SL 435. Stock is in bullish mode & trading above 200 EMA level.
always do trading as per your Reward to Risk ratio .The ideas sharing is for educational purpose only. In case any suggestion advice required feel free to ask.
Watch the August month performance sheet. All trading ideas freely shared here...
Based on the pattern observed on 21 Aug, it appears that TVS motors is entering a corrective phase .. The evolving pattern appears to be flat/ extended flat ... Wave a and b have been marked on the chart and wave c is in progress. On 24 Aug, wait for retracement to 455-457 levels and look to short with target of 446 ... SL would be 461.50