Comments
Investors with a short-term perspective can sell the stock of TVS Motor Company at current levels. The stock tumbled 6 per cent on Wednesday and this fall has decisively broken a key support as well as its 200-day moving average. The stock encountered a key resistance at around ₹320 in early January and has been on a medium-term downtrend since then. Short-term trend is also down for the stock.
A corrective rally met with a resistance at ₹250 and the stock has resumed its downtrend. The daily relative strength index has entered the bearish zone from the neutral region and the weekly RSI is on the verge of entering this zone. The short-term outlook is bearish. It can continue to decline and reach our target of ₹216 and then ₹212 in the upcoming sessions. Sell the stock with a stop-loss at ₹231.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.