#LONG on Samvardhana Motherson Int'l for long Term
Motherson had been moving in an 'ascending parallel channel' since 2017. The scrip fell from a high of 134.85 attained in Jan'22 to a low of 61.80 in March'23, correcting almost 54%.
It has taken support from lower end of the channel forming a W kinda pattern in shorter time frame. It started rising in Apr'23 and has risen by nearly 24% in last 3-4 months.
The stock has also formed double bottoms at the lower end of channel in larger time frames.
It has taken support from lower end of the channel forming a W kinda pattern in shorter time frame. It started rising in Apr'23 and has risen by nearly 24% in last 3-4 months.
The stock has also formed double bottoms at the lower end of channel in larger time frames.
Comment:
Target 1 stands achieved as on 1st Jan' 23 !!
Comment:
Target 2 achieved!
Slow and steady wins the race.Its a consistent performer for sure.
Slow and steady wins the race.Its a consistent performer for sure.