TVS MOTORS TGT 2314-2383-2480 SUPPORT AT 2025-2070 ZONE
TVS Motor Company Ltd. is another interesting chart with following
1. RSI on all time frames (DWM) above 60
2. Both SRS and ARS above zero
3. Price took support at 20 Week SMA
4. Narrowing Bollinger Bands on weekly chart
5. Price walking on upper Bollinger Bands on daily chart.
6. ABCD Pattern under formation on weekly chart
Can be a good risk reward with buy on dips and dips only with stop loss below 20 SMA for near term resistance at 52 week high 2314 levels and
further at 2383-2480 levels
Fundamental:
Company has reduced debt.
Company has delivered good profit growth of 19.0% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 21.3%
Lets see how it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on all time frames (DWM) above 60
2. Both SRS and ARS above zero
3. Price took support at 20 Week SMA
4. Narrowing Bollinger Bands on weekly chart
5. Price walking on upper Bollinger Bands on daily chart.
6. ABCD Pattern under formation on weekly chart
Can be a good risk reward with buy on dips and dips only with stop loss below 20 SMA for near term resistance at 52 week high 2314 levels and
further at 2383-2480 levels
Fundamental:
Company has reduced debt.
Company has delivered good profit growth of 19.0% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 21.3%
Lets see how it evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.