BharatJhunjhunwala

The stock fell below a very critical support on intraday basis

Long
NSE:MOTHERSUMI   MOTHERSON SUMI SYS
The stock fell below a very critical support on intraday basis, probably it was an attempt to shake off weak holder or buyer in it. A rebound was see with a formation of a bullish hammer candlestick pattern. RSI is into oversold bullish zone while MACD has faltered below zero line. In the coming sessions if lows of 115 is kept then we may see prices advancing to 126, 132 & 141 levels.

Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
http://www.prorsi.com