The stock of TVS Motor Company, which has been falling since the beginning of January, has rebounded taking support at ₹970. It has now crossed over the crucial ₹1,000-mark, opening the door for more upside. The bounce is likely to be extended to ₹1,070 or even to ₹1,100 on Friday.
Traders can consider the stock of TVS Motor for intraday trades. We recommend going long at the current level of ₹1,038 and add longs if the price dips to ₹1,015. Place the stop-loss at ₹995. Book profits when the stock touches ₹1,070. In case the stock begins the session below ₹1,015, refrain from trading.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)