Motherson forming Broadening Wedge, Trendline support since 2020
Hello Traders! Samvardhana Motherson – Broadening Wedge Breakout with Ascending Trendline Support
I hope you all are doing good in life and in your trading journey as well. Today I have brought a stock which is showing a dhamaka setup on the monthly chart – Samvardhana Motherson International. The stock is trading inside a Broadening Wedge Formation and respecting a strong ascending trendline since 2020. Recently, it again bounced from the support zone near ₹91, which clearly shows demand and buyers’ confidence at lower levels.
The ideal entry zone lies between ₹100–₹105 with a protective Stop Loss at ₹91. On the upside, the first hurdle is at ₹119, and once that is crossed, the stock may head towards medium-term target of ₹141 and long-term target of ₹163. Rising volumes also indicate accumulation, and a sustained breakout above ₹119 could trigger a fresh multi-month rally.
Disclaimer: This analysis is for educational purposes only and should not be taken as financial advice. Please do your own research or consult your financial advisor before investing.
Analysis By TraderRahulPal (TradingView Moderator) | More analysis & educational content on my profile
👉 If you found this helpful, don’t forget to like and follow for regular updates.
I hope you all are doing good in life and in your trading journey as well. Today I have brought a stock which is showing a dhamaka setup on the monthly chart – Samvardhana Motherson International. The stock is trading inside a Broadening Wedge Formation and respecting a strong ascending trendline since 2020. Recently, it again bounced from the support zone near ₹91, which clearly shows demand and buyers’ confidence at lower levels.
The ideal entry zone lies between ₹100–₹105 with a protective Stop Loss at ₹91. On the upside, the first hurdle is at ₹119, and once that is crossed, the stock may head towards medium-term target of ₹141 and long-term target of ₹163. Rising volumes also indicate accumulation, and a sustained breakout above ₹119 could trigger a fresh multi-month rally.
Disclaimer: This analysis is for educational purposes only and should not be taken as financial advice. Please do your own research or consult your financial advisor before investing.
Analysis By TraderRahulPal (TradingView Moderator) | More analysis & educational content on my profile
👉 If you found this helpful, don’t forget to like and follow for regular updates.
I Trader Gold here Tickmill (CFD broker):tickmill.link/4j0svdU
Telegram: tinyurl.com/5n7xsehh
WhatsApp:wa.me/919560602464
All links:linktr.ee/TraderRahulPal
I Trade Crypto here:partner.bybit.com/b/joinrahul
Telegram: tinyurl.com/5n7xsehh
WhatsApp:wa.me/919560602464
All links:linktr.ee/TraderRahulPal
I Trade Crypto here:partner.bybit.com/b/joinrahul
Related publications
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.
I Trader Gold here Tickmill (CFD broker):tickmill.link/4j0svdU
Telegram: tinyurl.com/5n7xsehh
WhatsApp:wa.me/919560602464
All links:linktr.ee/TraderRahulPal
I Trade Crypto here:partner.bybit.com/b/joinrahul
Telegram: tinyurl.com/5n7xsehh
WhatsApp:wa.me/919560602464
All links:linktr.ee/TraderRahulPal
I Trade Crypto here:partner.bybit.com/b/joinrahul
Related publications
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.