mothersonsumi Levels and view
Updated
NSE:MOTHERSUMI
Trading in an uptrend channel. currenly it is at the bottom of the uptrend channel + good resistance support zone + important dynamic supports as well. Consider the position for few days as the it can reach the upside of the channel.
A strong 15min close below 238 can initiate short position for small target.
a 15min close above 248 can give good momentum on upside for intraday.
Note. After reaching the bottom of the channel recently it failed to make a new high. Wich can be either weakness in the script or consolidation by the formation of ascending triangle pattern. The volume on short side is greater than buyside which is a concers.
Trading in an uptrend channel. currenly it is at the bottom of the uptrend channel + good resistance support zone + important dynamic supports as well. Consider the position for few days as the it can reach the upside of the channel.
A strong 15min close below 238 can initiate short position for small target.
a 15min close above 248 can give good momentum on upside for intraday.
Note. After reaching the bottom of the channel recently it failed to make a new high. Wich can be either weakness in the script or consolidation by the formation of ascending triangle pattern. The volume on short side is greater than buyside which is a concers.
Note
initated short trade and achieved more than 1%
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.