TVS Motor Company Ltd

NSE :TVSMOTOR   BSE :532343  Sector : Automobile

On Friday (28-May-2021) stock of TVS Motors corrected 5% and closed at 619.70 on NSE. With the start of new FNO series of June 21 stock has seen 26% rise in open interest with falling prices which signals fresh short built-up in the stock around 52 week high levels and dragging stock down. It seems bears had tried to enter the stock. Also, TVS Motor stock breached 10 and 20 Exponential moving average on daily chart and is hovering around 20 EMA.

If stock breaches level of 614 (20 EMA) we may see stock heading towards lower level. Stock has seen a huge gap up opening on 28th April 2021 which is yet to be filled. Stock may tend to fill this gap in the next few trading sessions.

Support in the stock is seen at 572, provides fresh opportunity to create a short position below 614 for the targets of 572. If stock trades above 666 fresh breakout will be seen and a very sharp up move will be seen, 666 is a very important level to watch which is immediate resistance for the stock.

Long term trend for the stock is up and intact. Trading way above trendline support. Investors should try to accumulate stock on correction till 560. Swing trades and Intraday Trades can go short below 614 for the targets of 596- 572.

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool