Long
Good time to buy Motherson sumi stock.
I will explain to you why i am recommended this stock in long (buy) side.
1) On the daily chart price formed a higher top higher bottom formation. This is 1st indication.
2) Rising channel formation.
3) RSI take a support on 45 level on closing basis.
4) MACD histogram indicate upward trend continuation.
5) 50 day moving average support around 149 level.
Buy above 152
Stop loss @ 140
Target @ 165 then 180
1) On the daily chart price formed a higher top higher bottom formation. This is 1st indication.
2) Rising channel formation.
3) RSI take a support on 45 level on closing basis.
4) MACD histogram indicate upward trend continuation.
5) 50 day moving average support around 149 level.
Buy above 152
Stop loss @ 140
Target @ 165 then 180
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