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Published on 12/06/2019 9:17:52 AM | Source: Religare Securities Ltd

Sell TVS Motor Company Ltd For The Target Rs.460 - Religare Sec

Posted in Broking Firm Views - Short Term Report| #TVS Motor Company Ltd #Auto Sector #Trading Report #Religare Securities Ltd

 

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TVS Motor Company Limited (TVSMOTOR)

Mostly auto counters are struggling and TVS Motors is no different. After making a record high in Jan 2018, it has been continuously trading in a declining trend. Though it had made several attempts in past one year but couldn’t surpass the hurdle of 200 day EMA on daily chart. The current chart pattern indicates further fall in near future. We advise initiating fresh shorts on bounce as per the mentioned levels.

 

Recommendation

Sell FUTS TVS Motor Company Ltd @482-486 Stoploss 494 Target 460 CMP 477.10

 

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