johnjen2088

motherson cup and handle and Elliot wave pattern

NSE:MOTHERSON   SAMVRDHNA MTHRSN INTL LTD
- 122 is the strong support and resistant point touched multiple times.
- but still is the stock being in bullish mode
- rsi reached 71.14 % at monthly time frame, so few points may arise from here
- wait for correction and may consider this stock when it reaches handle shape bottom or 4th wave is the best choice.

This analysis is my own idea.
I don't recommend taking trade based on this idea.
Know the market risk before trade.
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.