Ashish Chaturmohta of Fortune Equity Broker recommends going long in TVS Motor Company with a target of Rs 235-236 in the next two to three weeks.
Ashish Chaturmohta of Fortune Equity Broker told CNBC-TV18, " TVS Motor Company has seen a continuous correction from Rs 230 odd levels to almost Rs 200 on the downside. After that we saw very strong recovery from this Rs 200 levels and post that this stock saw consolidation between Rs 200-224 kind of levels. Today we have seen this breakout happening, so they can be lot of short covering in this stock from current levels."
"So at this level we are recommending a long position with a stoploss below this Rs 220 level which was the previous resistant zone also and on upside this stock has the potential to retest its previous levels of Rs 235-236 in the next two to three weeks," he added.
Disclosure: Analyst does not have any personal holding in the stock.
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