TVS Motor Company Limited (TVSMOTOR) Stock - Complete Technical Analysis - Nov 18, 2024

TVS Motor Stock Analysis: Key Levels to Watch for Price Reversal Technical Insights

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. TVS Motor (TVSMOTOR) is currently trading at 2416, with an 18.32% drop from its 52-week high and a 46.69% increase from its 52-week low. The stock has formed a Spinning Top candlestick pattern, indicating indecision, with potential volatility ahead. The Relative Strength Index (RSI) is currently in the oversold zone, suggesting that there may be room for a bounce if market sentiment shifts. However, with strong resistance around the 10-day and 50-day exponential moving averages (EMA), TVS Motor could face difficulties breaking above the 2440-2497 range.

Looking at momentum, the Average Directional Index (ADX) confirms a strong trend, but the Stochastic Oscillator and other indicators like MACD are signaling bearish pressure. Key support is seen at the 200-day EMA (2373), and any breakdown below 2373 could lead to further declines. On the upside, if the stock clears the 2440 resistance, it might move towards the 2500-2550 range.

Overall, traders should watch for price action around these key levels: resistance at 2440-2497 and support at 2373. The next few days will be crucial to determine if TVS Motor can rebound or if the bearish trend continues. Be cautious of volatility in this zone.