Buy TVS Motor Company, target Rs 740: Sumeet Bagadia
ETMarkets.com|
Feb 28, 2018, 08.01 AM IST
Sumeet Bagadia of Choice Equity Broking has a buy call on TVS Motor Company with a target price of Rs 740.
The current market price of TVS Motor Company is Rs 675.80.
Time period given by the analyst is one month when TVS Motor Company price can reach defined target.
Sumeet Bagadia recommended to keep a stop loss at Rs 625.
On a weekly chart, the stock has bounced back after taking a support of its 50-Weekly Moving Average which shows a positive trend of the stock.
Moreover, the stock has formed a Bullish Hammer Candlestick with the support of its 50 WMA which is considered as a Bullish reversal formation.
On a daily chart, the stock has formed “White Opening Marubozu Candlestick” with an increase in volume activity which shows a further upside movement in the counter.
A daily momentum indicator RSI reading is at 46.03 level with a positive crossover which points out for a positive breath in the stock.
The current market price of TVS Motor Company is Rs 675.80.
Time period given by the analyst is one month when TVS Motor Company price can reach defined target.
Sumeet Bagadia recommended to keep a stop loss at Rs 625.
On a weekly chart, the stock has bounced back after taking a support of its 50-Weekly Moving Average which shows a positive trend of the stock.
Moreover, the stock has formed a Bullish Hammer Candlestick with the support of its 50 WMA which is considered as a Bullish reversal formation.
On a daily chart, the stock has formed “White Opening Marubozu Candlestick” with an increase in volume activity which shows a further upside movement in the counter.
A daily momentum indicator RSI reading is at 46.03 level with a positive crossover which points out for a positive breath in the stock.
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