TVS Motor Breakout Wedge Setup (Sell)

13 Eki 2016

It is been observed that the price action is trending up in a channel on Daily chart. Now, on 30 Mins chart, it formed a wedge pattern or diagonal triangle and breaks out from that and moving further down. As per the Fibonacci estimation, I would target it to 38.2 % Fibonacci.

Target: 372
Stoploss: 394