One can go long in this particular stock for positional, as it has taken good support on weekly time frame & can give potential target upto 20% from current level...
- Trendline breakout. - Bounce from support. - one can look for swing entry & the target will be its near previous swing.
TVSMOTOR is looking bullish as it has tested its support level & MACD is also crossing from its lower level & giving bullish signal. Thus it is all set to move for upward direction & the long term target comes out to be Rs 660. However its just a prediction. The stock may or may not perform as predicted or descibed.
Here i have not used any indicators & simply following price action. According to price action, a big resistance is at 1800 levels where the stock may halt before giving breakout. However its just a prediction. Thus the long term target comes out to be Rs 2400. PS- This stock has been chosen for only an ideal case study. The stock may or may not perform as...