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⭐ Ultra Equity Advice #106 | Sell | Expected Profit 4-6% | Arijit Banerjee

OUR RECOMMENDATION

  Sell    TVS MOTOR  

CP#468.55
IdeaSELL
Sell Range474 – 468
Target450 – 444
StopLoss*488.6
Duration15 – 20 Trading Days
Potential Returns^4 – 6%
CP#IdeaSell RangeTargetStopLoss*DurationPotential Returns^
468.55SELL474 – 468450 – 444488.615 – 20 Trading Days4 – 6%

# CP – closing price on Jan 13, 2020
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 585.
^ Potential returns are calculated based on the median of sell range.

COMPANY OVERVIEW

Stock Data
NSE CodeTVSMOTOR
Sectoral IndexNifty Auto
52W High560.95
52W Low338.25
Face Value1
Relative Performance_TVS Motor vs Nifty Auto Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • Looking at the weekly chart, the stock has seen a spectacular fall from the high of around 792.1 (December 2017). We have also noticed, the overall trend, as well as the broader pattern, are bearish and any reactive pullback might be temporary in nature.
  • The stock price had done a sharp breakout from the downward sloping channel on weekly charts during October 2019. But that breakout seems to be a false one as the price is moving lower since then.
  • We expect the stock to remain in a falling trajectory and extend the down move in the coming weeks.
TVS Motor Weekly Chart
TVS Motor Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • The daily price indicates a distribution type of formation, where Price is moving in a falling range.
  • Presently, the stock price has placed near the Upper side of this range and based on historical price pattern, we are expecting the price to fall off from here.
  • The momentum oscillator RSI is also moving southwards and thus showing a lack of buying strength in the counter.
TVS Motor Daily Chart
TVS Motor Daily Chart

LIVE UPDATE - POSITION & ACTIVITIES

Position: Short TVSMOTOR at ₹ 474 | Goodluck Capital by GoodluckCapital on TradingView

Position: Short TVSMOTOR at ₹ 474 | Goodluck Capital by GoodluckCapital on TradingView

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MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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