Trade Idea of The Day - TVS Motor Company Ltd Target Rs.125- Religare Broking Ltd
TVS Motor Company Ltd
BUY 30 MAR 3900 CE TVS Motor Company Ltd SELL 30 MAR 4100 CE Entry Range 75 – 80 Target Range 125 Stop Loss 58
Rationale
* On the daily chart TVSMOTOR has respecting a well-defined rising channel, recently witnessed a breakout from immediate resistance of 3900 and expected to inches toward the 4100 resistance zone.
* The stock prices are trading above its 20-DEMA and 50-DEMAs, with the shorter-term average trending upward to provide dynamic support.
* The 14-RSI placed above critical mark of 60, showing strong positive momentum without yet hitting the overbought territory, leaving room for further upside.
* On the technical front a fresh bullish crossover on the MACD is visible, with the histogram turning green, signalling an acceleration in buying pressure.
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SEBI Registration number is INZ00017433
