TVS Motors after its sharp declines over the last few days has now headed into a stiff . The strong lead rise is now seen halting at the higher levels as the resistance zones around 500-510 could witness supply. With a value on weekly charts firmly laid out ahead the possibility of continued upward rise is now challenged.
Currently the rise has rallied 1/3 of the fallsince Jan 2018. Hence the current levels makes it be an ideal point to go contrarian. Further , the rally into are highlighting that its time to book some profits.With still continuing to languish in the negative zone one should refrain from getting overtly on this counter at the moment and track for some shorting opportunities once it begins to react lower from current levels.
Idea Sourced From NeoTrader