TVS Motor has broken out of a cup and handle pattern on the weekly chart, supported by robust volumes, indicating strength behind the move.
The stock is outperforming its index, reflecting resilience despite broader market weakness. RSI is rising at 62.36, signaling growing bullish momentum, while ADX is improving steadily. The breakout above the Rs 2,940–2,950 zone suggests further upside potential, with Fibonacci projections pointing to higher targets.
Given current market volatility, traders are advised to use a strict stop loss at Rs 2,850 and maintain disciplined entries to avoid getting trapped. A buy can be considered at current levels with targets around Rs 3,180–3,300.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times)