A wonderful trading opportunity in motherson sumi
As you cna see the price has been consolidating in a zone since 4 days on 15 min timeframe. At the same time the rsi is also taking support on 40 level. on upside there is a resistance and 200 EMA can also be a hurdel on upside.if the price breaks the 200 EMA with good volume and momentum and at the same time the rsi also breaks the 60 level you can go for long trade for a target of 235.
on other hand if the price breaks the support of 222 level and the rsi also breaks the 40 level.You can go for a short trade for a target of 212.
on other hand if the price breaks the support of 222 level and the rsi also breaks the 40 level.You can go for a short trade for a target of 212.
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