TVS Srichakra Support Buy
A week days ago, I received a TVS Srichakra Support Buy Signal, because TVS is testing Supportline.
Since 2014, TVS Srichakra has been in a long term uptrend. In February 2016, TVS created a Strong Support level and changed the short term trend to an uptrend.
Kindly have in mind, that this chart shows TVS Srichakra in a Weekly Timeframe.
Please also note, that in February 2016, the price rejected the MA100 line and refused to cross the MA100 line.
Right now the price is testing Supportline again on the weekly timeframe. Not only the Supportline is being tested, but also the MA100 line, just like february 2016.
I am waiting for a bullish weekly candle, then I will BUY.
Always remember to set a stoploss, and I would place it around 2910.
I would take 1. profit around 3700 and then hope the price will reach Resistanceline.