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Buy TVS Motor Company, target Rs 640: Aditya Agarwala

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Aditya Agarwala of YES Securities has a buy call on TVS Motor Company with a target range of Rs 600-640.
The current market price of TVS Motor Company is Rs 553.10. Time period given by the analyst is two weeks when TVS Motor Company price can reach the defined target.
Aditya Agarwala recommended keeping a stoploss at Rs 525. "On the weekly chart, TVS Motor Company is on the verge of a breakout from a falling wedge pattern suggesting bullishness building up in the stock.
Further, on the daily chart it has broken out from a Flag pattern affirming bullishness.
Further, the RSI is forming higher highs and higher lows suggesting higher levels.
"The stock can be bought in the range of Rs 552-558 for targets of Rs 600-640, keeping a stop loss above Rs 525," Agarwala said. TVS Motor Company, incorporated in the year 1992, is a largecap company (having a market cap of Rs 26,478.98 crore) operating in the auto sector.




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