AkshayAdak

May give breakout soon

NSE:MOTHERSUMI   MOTHERSON SUMI SYS
Neutral for now. Waiting for trend confirmation.
It is in consolidating for more than 2 months.
The previous resistance one is acting as a strong support zone now and stock has
bounced back from it for multiple times.
MFI is at 25.

Now it is also at a short term trend line and may move upward from here if Nifty is bullish .
Nifty support is important for coming days.
Otherwise we may see breakdown if Nifty is bearish .

This post is for information purpose only.
Comment: On the next day on 10th Aug it gave breakdown with good volumes.
And till now the moved around -11%.
I thought it will bounce back but overall the weakness in midcaps and smallcaps and all other factors affected it and dragged it down.

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