TVS Motor is finding support at 545 and resistance at 560.
MACD showing positive momentum which indicates that upside side seems certain in it.
Daily 14 period RSI has turned up from near 70 levels.As per the bullish high low theory of 40-70 levels, the weekly RSI is expected to move up to 73-75 levels from the current reading of 70. This could mean continuation of upside momentum in the stock price ahead.
Break and sustain above 560 will see nonstop rally in TVS Motor till 578++ in weeks to come
We believe the stock has the potential to move higher in the coming weeks as bullish trend will be seen above 578 level.
Trading Recommendation - Buy TVS Motor above 560 for the initial upside target of 578 with stop loss below 545 on closing basis.
More will update on time to time.
