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Motherson

Simple Trade Setup |Motherson Sumi | 13-08-2021NSE:MOTHERSUMI On Daily Time frame it has broken 100DMA and and still trading below 100DMA since last 2 days. It has trapped most of retail traders with their own sentiment that it will shoot up like a rocket on Result day like it did in previous result day. But going in Market with sentiment is always risky. Right now it is in Critical Zone between 220-226 levels. Also on Daily time frame it is trading in Descending Channel. Breaking of any side will give move. Please refer below chart for Daily Time Frame. For Positional Long Trade one can take the position if it breakout 230 level. A daily candle closed above 230 level will be good confirmation for entry. Target will be 240-245. For Positional Short Trade one can only take short position if it breakdown the channel. Target will be 210-205. On 15min chart, levels and target are mentioned for trade setup for tomorrow intraday, 13-08-2021. Hope Chart and levels are easy to understand. All the levels will work as support, resistance, entry & target w.r.t price action near that level tomorrow. Don't jump in early market noise. Wait for 15-20 minutes and then judge the price action. Do comment your doubt or suggestion. All the best for tomorrow.
M
by Trading_hawk
17
Motherson Sumi Double Bottom Pattern (will it repeat again)NSE:MOTHERSUMI This is for Positional Trade Mothersumi is forming double bottom pattern same like it did before. I have marked the formation of double bottom pattern and also the previous formation of it. You can take position once the neckline will get tested for support. And then it will be easy target of 35-40 points up move in just couple of days. All the best for trading in next week. Comment below if my Ideas are helping you to understand the levels. Also comment your suggestion or doubts.
MLong
by Trading_hawk
5
Analysis with an Executable Trade Idea ( Ellioticians Beware)Often Misunderstood concept of Elliot Waves is its usage as a be all and end of technical analysis. Simply put Elliot is not a predictive tool but is the "THEORY" of way the market moves, hence relying on it solely to predict future movement is problematic and the counts change all the time and in "RETROSPECT" Am sure those fanboys may not agree with me but all i care is making money and what works for me/others. Ironically most hedgefunds/mutualfunds/inv mgmt firms dont give much credence to elliot waves, it is more of the 'retail crowd' who go ga ga about it.....and guess who gets a raw deal in the mkts--the 'retail crowd'. Ok Enough of EW Bashing..chuckle..especially coming from me who once believed EW as the Holy Gospel...Lol. Coming to the Executable Plan :- I am looking for a buying opportunity in the Green Zone and a retest of the 200 Ema. as there is enough momentum in the stock and buying pressure to take there. Hare Krishna ! Good Luck
MLong
by VahniTrading
6