MoneyMunch.com

Do you remember our last Research on PEL? This stock was bought by us and CMP 1700 +. Its was Free research.

The following patterns have been found,

• Triangle (Projected Triangle with breakout point)
• Channel from long-term

We are seeing an excess at the demand line from which can be certain that a small excess can be found on the supply line.

Resistance for TVS motors between 466-472 range. If anything does not change fundamentally due to this and next week, this stock will take reversal toward 418-400.

Let move for closer look and trend.

On the daily chart, Total 3 patterns have been plotted by this TVS MOTOR which is following,

• Two-Channel Patterns
• Flag pattern

The Price rotation and Tails are important roles to identify the change in it. Presently, the stock price is in a channel with the supply line, therefore we are expected Tail or Overlapping at the value high.

Focus on volume, the volume is rising with price. If the volume will continue to raise then, we can see up-break out with targets 498-505 but the resistance 463-468 for short sellers and profiting for targets 428-411.

We are seeing an excess at demand line from which can be certain that a small excess can be found on the supply line.

Resistance for TVS motors between 466-472 range. If anything does not changes fundamentally due to this and next week, this stock will take reversal toward 418-400.