Buy TVS Shrichakra call by IIFL

Pee Vee
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Posts: 214
Joined: Mon Dec 26, 2016 10:45 pm

Buy TVS Shrichakra call by IIFL

Postby Pee Vee » Wed Mar 15, 2017 11:39 am

TVS Srichakra Ltd - BUY
CMP: Rs 3050-3080; 3 Months Target: Rs 3590; Stop Loss: 2697
“Flag breakout”

TVS Srichakra Ltd. is trading in a strong higher top higher bottom chart structure on monthly chart. Analyzing the longer time frame, on monthly chart, the stock has given a flag pattern breakout. Tracking the recent trading activity, the stock has given a strong recovery by taking support at 61.8% retracement from its previous trading range of 1946-4248 and has given a double bottom breakout on the daily chart. The stock is also continuously forming long positions with rise in delivery volumes, indicating a continuation on this uptrend up to 3590 levels, which coincides with its 50% retracement from its previous trading range of 1319 points from 4248-2929. This suggests TVS Srichakra is all set to resume its northbound journey. The stock has a potential first target of Rs 3590, translating into 17.1% returns.

shakes12
Posts: 4
Joined: Wed Mar 22, 2017 9:30 pm

Re: Buy TVS Shrichakra call by IIFL

Postby shakes12 » Sat Apr 01, 2017 8:13 am

thanks for excellent call brought at 3300 and sold at 3605 ...... waiting for such reco

Pee Vee
Site Admin
Posts: 214
Joined: Mon Dec 26, 2016 10:45 pm

Re: Buy TVS Shrichakra call by IIFL

Postby Pee Vee » Sat Apr 01, 2017 3:44 pm

shakes12 wrote:thanks for excellent call brought at 3300 and sold at 3605 ...... waiting for such reco

Congrats !!


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