TVSSRICHAK trade ideas
Looks bullishCup and handle pattern. Looks good for 2500 as target 1 and then can jump further too. SL around 1890s
TVS Srichakra-Great Buy pointTVS Srichakra is trading near 200 EMA on weekly chart with good volumes. Something is happening in tyre space because i can see great volume and price action in all charts(CEAT, Goodyear and JK Tyre already posted). Also forming cup and handle pattern and looking bullish in all timeframes.
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.
tvs srichakra H&S patternhead and shoulder pattern formation in 1day candle chart ( for personal educational project)
Buy TVS Schrichakra stop loss 1300.As you can see the stock is consolidating for 2 months at 200 ema. This sort of price movement wont give you chance to enter at breakouts and confirmation. Try buying near the stop loss to reduce the risk or buy now by adjusting your position size.
Long on TVS SrichakraPull back on TVS Srichakra on EOD and entry 2520 and exit zone 2600 to 2640. Average points to gain 100 and which is 4% of stock value. Duration of holding probably 3 to 5 days.
Note: Suitable for swing traders only.
#TVSSRICHAKTarget 3046
If Bridge zone 1 and Bridge zone 2 are filled
2686 - 2726.45 - Conductive Gap Bridge
2811 - 2872.2 - Conductive Gap Bridge
Momentum awaited
BO2 awaited on W charts
WYCKOFF DISTRIBUTIONtyre industry is going to face the effects of oversupply soon
disclaimer... not an investing/trading recommendaiton
Go to shortGo to sell, if not reversed from this point dated 04 Jul 18.
Its target is 2896 up to 17 Jul 2018.
buy levels
bullish engulf
high 3174
low 2971
delta 203
entry 3072.5
target1 3275.5
target2 3478.5
sl 2971
#TVSSRICHAKBO2 awaited
It will
Confirm Reversal
Confirm Bottom formation
Activate TGC
Currently
CCI (D)>100
TVS Srichakra:3349 Res:3600_3950 & 4300 support:3300TVS Srichakra:3349 is currently trading near a pitch fork channel support,
oversold and having a positive divergence. Res:3600_3950 & 4300 support:3300
TVS Srichakra 3022 is at support,a break below targets 2690.TVS Srichakra 3022 is at support, a break below this level will take this stock to 2690 first.
Rubber prices were reducing, so tyre stocks were up.
But without increase in sales, it is going to be hurdle in growth.
it may consolidate and touch 2300 eventually before developing further.
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