Trade Idea of The Day - TVS Motor Ltd Target Rs.30 - Religare Broking Ltd
Blue Star Ltd
BUY 25 AUG 3900 CALL SELL 25 AUG 4000 CALL Entry Range (Outflow) 40 – 45 Target 30 Stop Loss 65
Rationale
1. TVSMOTOR has delivered a strong bullish breakout on the weekly chart, supported by a robust bullish candle and a sharp rise in volumes, indicating renewed buying interest. The stock has also reclaimed its recent swing high, reinforcing the continuation of the prevailing uptrend.
2. The stock prices are traded above both the 20-WEMA and 50-WEMA, reflecting sustained medium-term strength where every decline attracts the fresh buying with the upside potential of 4000.
3. Momentum indicators remain supportive of the bullish outlook. The RSI has moved above the 60 mark, indicating strengthening momentum, while the MACD has witnessed a bullish crossover with rising histogram bars, signalling improving upside momentum in the coming weeks.
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SEBI Registration number is INZ00017433
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