Tvssrichakra
Ready to conquer and establish !!!TVSSRICHAK has given a breakout from the pennant pattern, stock was under
consolidation from the last 30 days after a strong up move and now it seems that
it's ready to resume its uptrend.
RSI trying to keep itself above 60 during the period of consolidation which indicates
the strength of the stock.
Buzzing volume further confirms the breakout.
It can make a new swing high above which we can witness levels of 2450.
TVS Srichakra - Textbook weekly breakout + close above 200 WMAChart is self explanatory.
Buy TVS Srichakra strictly for investment at CMP. Multiple breakouts in play alongside the first weekly close above 200 WMA (forest green colored MA on the chart) in many years.
Stop Loss : 2090 WCB
Target : At least 2800.
TVS Srichakra is very Bullish in long term.NSE:TVSSRICHAK is Bullish and level of resistance and support are marked in the chart.
The price reversal box around Rs1911 levels will act as support.
The price level around Rs2300 will act as resistance. The retest of support level or can fall upto Rs1600 but will ensure its bullish continuation towards level of Rs3000-Rs4000 for long term perspective.