TVSMOTOR
Last Opportunity to BUY TVS MOTOR Hello, guys welcome Back My self Ravindra,
Guys please if you like my analysis then like it takes hours for making No more words Please.
When you analyze Through elliote wave, Wave 3 is done at 340 Level which is approx 0.382 Fib level Its confirm. Now According to Elliote Wave after wave 5 we see a major fall Around 260 Points from 1 FEB to 8 APRIL.
According to technical analysis, we have done our 5 th elliote wave at 240 levels ( Making Round Bottom )
, Now price is riding on a corrective wave A, B, and C, Stock Might Move toward 400-450-500 After Retracing Wave B @360-340 level Then further we will move toward wave C Which Is our Target and Volume is Increases continuously.
Thanks
TVS Motors : Time to book profits..?
TVS Motors after its sharp declines over the last few days has now headed into a stiff resistance zone. The strong volume lead rise is now seen halting at the higher levels as the resistance zones around 500-510 could witness supply. With a value resistance zone on weekly charts firmly laid out ahead the possibility of continued upward rise is now challenged.
Currently the rise has rallied 1/3 of the fallsince Jan 2018. Hence the current levels makes it be an ideal point to go contrarian. Further , the rally into Ichimoku clouds are highlighting that its time to book some profits.With MACD still continuing to languish in the negative zone one should refrain from getting overtly bullish on this counter at the moment and track for some shorting opportunities once it begins to react lower from current levels.
Idea Sourced From NeoTrader
trade.chartadvise.com
Short or Long will fill your pocket on TVSMOTOR?On the daily chart, Total 3 patterns have been plotted by this TVS MOTOR which is following,
Two-Channel Patterns
Flag pattern
The Price rotation and Tails are important roles to identify the change in it. Presently, the stock price is in a channel with the supply line, therefore we are expected Tail or Overlapping at the value high.
Focus on volume, the volume is rising with a price. If the volume will continue to raise then, we can see up-break out with targets 498-505 but the resistance 463-468 for short sellers and profiting for targets 428-411.
We are seeing an excess at the demand line from which can be certain that a small excess can be found on the supply line.
Resistance for TVS motors between 466-472 range. If anything does not change fundamentally due to this and next week, this stock will take reversal toward 418-400.
The following patterns have been found,
Triangle (Projected Triangle with breakout point)
Channel from long-term
We are seeing an excess at the demand line from which can be certain that a small excess can be found on the supply line .
Resistance for TVS motors between 469-472 range . If anything does not change fundamentally due to this and next week, this stock will take reversal toward 418-400.