TRADING RECOMMENDATIONS OF TVS Motor Company

Technical Outlook & Trading Strategy:-

The key observation to be made is that the price of TVS MOTOR has formed a head and shoulder pattern on the Daily charts.

A breakdown from the said pattern would be confirmed when the price breaks below the neckline level of Rs 57.8 levels.

The momentum indicator is also in sell mode. The prices of TVS MOTOR will face severe selling pressure once it starts trading below the neckline level of Rs 57.8 levels.

We recommend traders to sell in the range of Rs 57.5 – Rs 58 levels with a stop loss placed above Rs 60.6 levels for targets of Rs 54.5 – Rs 52 levels, expected to be achieved in coming few Sessions.

TRADING RECOMMENDATIONS OF Lupin

Technical Outlook & Trading Strategy:-

The share price of Lupin has registered a close below its cluster of moving averages. The momentum indicator on the daily chart is also in a bearish zone suggesting more downside in the stock.

We believe that the share price could decline towards the levels of Rs 448 /Rs 440 levels.

We recommend traders to sell in the range of Rs 462— Rs 466 levels with a stop loss placed above Rs 474.6 levels.

TRADING RECOMMENDATIONS Kotak Mahindra Bank

Technical Outlook & Trading Strategy:-

The share price of Kotak Mahindra Bank has registered a head and shoulders breakdown.

This is a bearish formation and the measuring implication of the pattern suggests that the price can decline towards the levels of Rs 420 / Rs 410 levels.

The momentum indicators have also turned into sell mode which displays weakness in the counter.

Traders can look to sell at current levels with a stop loss placed above Rs 460.60levels.