TVSMOTOR, VOLUME SUPPORTED BREAKOUT (CHART# 379)

2020年11月30日

TVSMOTOR has given good breakout on Friday and closing was also good. As this has closed at 499 (near to 500 which is psychological level), on Tuesday keep this on radar for long trade. Following 2 scenarios can happen on Tuesday.
1. This opens minor gap up & continuously move up, then wait for it to cross 512 to take trade.
2. This open gap up move down. In such case if this take support at previous resistance TL (490) and start to bounce, then it can be good trade till 512 as Target 1.

Please note, we should always trade with trend to have higher probability of success.

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Thanks
Piyush Gupta