TheChartereds

MOTHERSON: Interesting Setup

TheChartereds Updated   
NSE:MOTHERSON   SAMVRDHNA MTHRSN INTL LTD
Like always the chart should tell you everything you need to know about Motherson.
Now for the readers, here are some pointers:

- The price broke a structure in June to rally about 20%

- Currently, it is at a very crucial point. The previous strong support is now acting as a strong resistance.

- The 100 rupee mark is also a strong psychological resistance for companies like Motherson

- The price is now consolidating at the resistance zone which is a good sign.

- The bodies have gotten smaller showing indecision.

- The long upper wicks show the presence of sellers.

- A strong high-volume break and sustenance above the zone will be crucial.

- We then have an ATH zone sitting right at the top.

We will keep updating the comments for every unfolding price action. You may follow us for regular updates.

Have Requests, Questions, or Suggestions? DM us or comment below.👇


⚠️Disclaimer:
We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
Comment:
The ATH Zone:
Comment:
Okay, that was a quick rollercoaster. Another huge upper wick candle. As we said - A strong high-volume break and sustenance above the zone will be crucial.
Comment:
Comment:
Comment:
Comment:
Comment:
Comment:
Comment:
Comment:
Comment:
Comment:
Comment:
Comment:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.