TVS Motors Ltd seems bearish

TVS Motors Daily Chart Technical Analysis

TVS Motors is sideways since Aug-15 and is currently trading at Rs. 230.

The price has completed AB leg of the fall from 321 to 207 (Jan-May 2015).  The CD leg seems to be developing with 272 as the possible C coordinate.

At AB = 61.8% CD, the support is at 207.50.
At AB = CD, the support is at 167.30.

RSI is at 40, if it falls below 40 and remains stuck in the oversold range for a while, these downsides may get achieved.



All posts related to TVS Motors

TVS Motors Daily Chart Technical Analysis

TVS Motors: Rs 70 continues to be an important price level

TVS MOTORS Daily NSE Stock Chart Technical Analysis:


The TVS Motors stock price again closed below 70 today for the 4th consecutive day.
Close & CMP: 69.6

Market Outlook:

• The stock price is facing resistance at 70.  Closing the day above 70 makes it an opportunity to enter with a long position.
• The first target would be 77, where TVS faces another resistance.
• If it falls, the support is at 65.

Technical Indicators:

• The price opens above 70 but closes below it.  70 is an earlier support which is now acting as resistance.
• This total fall in price this month has been more than any other month in the past 2 years.
• Above 77, the stock will break through its long-term resistance and become lucrative.  Until then, only short term trades can be made.

All previous posts about TVS Motors

TVS MOTORS Daily NSE Stock Chart Technical Analysis


(analysed for Srinivasan, Mumbai)

TVS Motors - No Signals Yet but watch out for a bottom at Rs. 70

In yesterday's post, I had pointed out that 3 lines of support are merging on the TVS Motors stock price chart on NSE, and it would be important which of these lines the price breaks and which one it respects.

Interestingly (or not so interestingly), the intraday low fell below all 3 support lines (2 trend lines, 1 50 day moving average).  But it climbed back and closed above all 3 lines of support.  This makes the next day more interesting to watch before taking a position.

There is a line of support to the TVS Motors stock price on NSE at Rs. 70.  This was a level where the price found some resistance before it gapped up and created this line into support in mid-Aug 2010.  We can see that this line of support has indeed been quite "supportive" to the price.  

This will be a line to watch out for at Rs. 70 price level.  If this line is crossed with good volume and followed by negative candles, the market might not rise up soon.  But if this line is respected, the price will go up again.

The stock price has formed a Reverse head and shoulders pattern.  The price today has fallen below the reverse shoulder, which is not a good sign.  Other indicators also point towards a decline.

The price could fall further on Monday, obstacled by 2 diagonal support trend lines, the 50 day moving average, and the Rs. 70 support line.

3 lines of support converge on TVS stock chart

TVS Motor stock price on NSE has seen 3 support lines converge yesterday, of which one is its 50 day moving average.  Which of these support lines will the TVS stock adhere to?  That's what is to be seen before  taking the next position on this stock.

This is a closer view of the support lines converging.  The 50 day moving average (not seen in 2nd chart) touches the line of support today.  The 20 day moving average (not seen here) is closing back in to the 50 day moving average, showing that some consensus is building in the market and this consensus should be visible soon from which line of support remains valid.