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Avoid long side trade in TVS Motor: Kunal Bothra
Kunal Bothra, Sr Technical Analyst, LKP Share is of the view that one should not trade on the long side in TVS Motor as there is continuous fall from Rs 70 to Rs 48 in the stock without even resemblance of a bounce.
Kunal Bothra, Sr Technical Analyst, LKP Share is of the view that one should not trade on the long side in TVS Motor as there is continuous fall from Rs 70 to Rs 48 in the stock without even resemblance of a bounce.
Bothra told CNBC-TV18, "TVS Motor was one of the very good stocks probably couple of months back, probably in the month of October-November, but with the kind of fall from Rs 70 to Rs 48. At this point ideally what we should do is we should probably watch this stock, probably not trade on the long side because the fall has been continuous from Rs 70 to Rs 48 without even resemblance of a bounce. So I would ideally wait for one opportunity of a bounce to come in the stock - if it happens at Rs 44 or Rs 45 or Rs 40 levels, I am not too sure, but once the bounce happens, I would then probably figure out the exact level for shorting this stock, but it's an definite downtrend stock on TVS.
Disclosure: No personal holdings in any of the stocks, but at LKP we keep recommending to our clients.
