Mayur_Undale

Motherson Sumi_Long Call_target 137

Long
NSE:MOTHERSUMI   MOTHERSON SUMI SYS
Date: 29 June 2020
Motherson Sumi ( CMP 95.30) has taken support at multiple times in the past. Likely chance of upside movement.

Today also stock priced retraced from the day's low and closed near the open price, slightly above the 20 DEMA level.

Immediate upside target will be 100 and down side for SL will be 87.85

Breakout above 100 with increasing volumes should confirm the symmetric triangle pattern with upside target upto 137 and SL at 88.

The price band of 100 and 88 is crucial for stock for massive movement on either sides
Trade active: Motherson Sumi reached short term target of Rs.100 on 02 July 2020

Comments

I have buyed at 100 can i hold or exit
Reply
Mayur_Undale vsaikumar
@vsaikumar, Hold. Motherson Sumi is one of the biggest vendor of Maruti Suzuki. Few weeks back Maruti Suzuki asked their vendors to increase the supply as Maruti is going to increase the production in July.
Reply
hardikd103 Mayur_Undale
@Mayur_Undale, can I short 5000 shares of motherson sumi?
Reply
Mayur_Undale hardikd103
@hardikd103, Yes. On the downside look for a target of 93.25 and 88.
Reply
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