Motherson sumi: on 7th april posted technical chart of motherson sumi kindly refer
accordingly, it has retested the breakout of channel and gives its target. after that it formed HNS pattern at top and goes in retracement mode.
presently it formed W pattern with following features:
1. up-wedge breakout with volume.
2. Neckline breakout with volume.
3. strong candle close on daily chart can show new 52 week high with sl of 222 on daily closing basis in 90 days. will track for nxt 3 months n will grab FNO opportunities which gives good RR. will update if taken any fno trade.
accordingly, it has retested the breakout of channel and gives its target. after that it formed HNS pattern at top and goes in retracement mode.
presently it formed W pattern with following features:
1. up-wedge breakout with volume.
2. Neckline breakout with volume.
3. strong candle close on daily chart can show new 52 week high with sl of 222 on daily closing basis in 90 days. will track for nxt 3 months n will grab FNO opportunities which gives good RR. will update if taken any fno trade.
Trade active:
Sl on closing basis not triggered only 1 point saved sl
Trade active:
todays high 257