TVS Motor Company clocks 6% sales growth in May 2015 but chart indicating weakness
Observation .
1. On daily chart we can see that TVS motor is making lower lows and lower highs which is an indication of downtrend .
2. We can also see that each and every pullbacks are consuming more time , when compared to throw backs.
3.We can also see price volume divergences .
Conclusion :- Previous swing high ie 250 is crucial level as of now .
How to trade
Sell near 248 with closing sl of 251 for the target of 227 (cmp 236)
Observation .
1. On daily chart we can see that TVS motor is making lower lows and lower highs which is an indication of downtrend .
2. We can also see that each and every pullbacks are consuming more time , when compared to throw backs.
3.We can also see price volume divergences .
Conclusion :- Previous swing high ie 250 is crucial level as of now .
How to trade
Sell near 248 with closing sl of 251 for the target of 227 (cmp 236)
