It looks like mother Sumi has completed the 4th wave correction, and the ending point of the corrective wave (4) is the starting point of wave (5).
Wave (4) is occurring in double three corrections.
A "double three" consists of two corrective patterns, the first labeled W, and the second label Y, separated by a corrective pattern
on the opposite side, which is...
Motherson Sumi is on Bearish Mode. It has breached the latest support levels 221 & 210 and have steep fall on last 3 days. Expected to go down till 200 where there is a strong support. Unless there is any immediate positve news, the expection is fall further till the support level.
MOTHERSON SUMI - IN RANGE (WYCKOFF METHOD)
1) ANOMALY
2) PRESENCE OF SMART MONEY
3) TESTING OF BOTH-SIDES
4) SPRING ACTION SEEN
5) READY FOR SOS CANDLE FORMATION
