Multibagger Stock: TVS Motors up by 80% in just 8 months!!
Dec 22, 2023
Multibagger Stock: TVS Motors up by 80% in just 8 months!!
It is possible to capture a massive move in a shorter time frame with the help of Time cycle and simple Elliott wave.
We had recommended to buy TVS Motors in our Multibagger stock report back in April 2023 around 1135 levels! Below shows a detailed chart and analysis that the stock followed.
TVS Motors Weekly Chart Anticipated as on 28th April 2023 
Wave analysis as on 28th April 2023
As shown in Weekly chart, since 2013 this stock is intact in big upward moving red channel. Within this channel we have seen different phases in prices such as bull phase and bear phase. Prices started moving in an impulsive manner. Wherein, wave 1 completed near 770 levels and then primary wave 2 started moving on the downside and completed in form of corrective pattern near 490 levels. Wave 2 took 4 years to get complete and then primary wave 3 is unfolding on the upside which is considered as a most impulsive one.
On the weekly chart, 150 period Exponential Moving Average is acting as a brilliant support line and it has provided support at regular intervals. This suggest that one should be in the direction of the ongoing trend as far as this line is protected. As per this, nearest support can be placed near 770 levels. Also, MACD is showing positive crossover which is acting as a double confirmation.
Time cycle: As we can see that how after every 106 weeks near the vertical line an important low is formed with a slight variation of one of two candles. Recent low was formed on our cycle and since then a good rise was seen. This stock has been outperforming since past many years and it has great potential to continue its up move in coming years. So, it is advisable to create long positions in this stock but in a staggered way.
In nutshell, Elliott wave theory along with time cycle suggests that long term bull trend is ongoing in TVS motors. One can start buying this stock at current levels and add on dips towards 965 and can maintain stop around 770 price levels and Conservative target for this stock can be maintained at 2050 levels on the upside which is also the upper resistance of the channel.
TVS Motors Weekly chart (Happened as on 22nd December 2023)
Happened
We have published in our Multibagger Report on 28th April 2023 in which we have covered a stock named TVS Motors. At the time of the update the stock was trading around 1135 levels. Recently stock has achieved our target of 2050 and made high of 2058.5. Stock has shown movement of more than 80% just 8 months of span!
Time Cycle and Elliott wave works brilliantly if one knows how to apply it correctly. So, using Time cycle one can derive path ahead for intraday and positional on stocks and even on index as well.
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