Comments
Investors with a short-term trading perspective can consider buying the stock of TVS Motor Company. The stock has been declining since October 5, moving lower from Rs 46.9 to Rs 36.5. This decline has, however, halted in the short-term support zone between Rs 36.5 and Rs 35.7.
A medium-term low is possible at this level. Relative strength index that had declined deep into bearish zone has now reversed higher and is positioned around Rs 48, signalling a short-term trend reversal in the offing. The stock closed above its 21-day moving average on Thursday.
The stock could continue its current up-move. Targets for the stock are Rs 40.2 or Rs 40.5. Investors can buy the stock with stop-loss at Rs 37.8.
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.