TVS Motor Company Limited (TVSMOTOR) Stock - Complete Technical Analysis - Nov 05, 2024

TVS Motor Company: Technical Analysis and Key Support & Resistance Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Currently priced at 2,458, TVS Motor Company is exhibiting bearish patterns. The stock recently opened at 2,412.15 and closed lower at 2,458.40 after reaching a high of 2,468.15, suggesting potential selling pressure. The RSI reading below 40 indicates weakness, while the Stochastic RSI suggests oversold conditions, pointing to possible reversal opportunities.

The MACD remains in negative territory, confirming bearish momentum, and the Awesome Oscillator indicates ongoing selling pressure. Key support levels are identified around the classic pivot S1 at 2,287.38 and the 200-day EMA at 2,367.64. Resistance could emerge near the classic pivot P at 2,581.32.

Traders should be cautious but vigilant, watching for price movements at these critical levels. If the stock can reclaim above 2,581, it may signal a potential bullish reversal, whereas a drop below 2,287 could invite further selling.