share name : mother sumu system
call type : poistional
- high of 2017 (263 rs) is acting as a huge res.
- cup and handle pattern
- a doji can been seen on top
- exhaustion gap on top
- ab=cd forming
if price comes, we can initate a buying at
price - 170 rs with sl of sl 150
approchable target 450
This is one of the fundamentally strong company with consistent good returns.
The price is near the 2018 high and facing little resistance. With perfect risk: reward it can deliver minimum 25% returns in very short time. The price can move like Tata motors did.
Motherson sumi: on 7th april posted technical chart of motherson sumi kindly refer
accordingly, it has retested the breakout of channel and gives its target. after that it formed HNS pattern at top and goes in...
After correcting from highs of 260-265 in June 2021, the stock has taken support on the midterm trend line, that it has been following since April 2020.
As the stock gained support from the breaking point of 200, it started climbing up the ladder with MACD and RSI supporting its price movement.
Despite the price move up, volumes are still awaiting confirmation.
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...
Neutral for now. Waiting for trend confirmation.
It is in consolidating for more than 2 months.
The previous resistance one is acting as a strong support zone now and stock has
bounced back from it for multiple times.
MFI is at 25.
Now it is also at a short term trend line and may move upward from here if Nifty is bullish.
Nifty support is important for coming...
Chart is self explanatory about positional trade setup on buy side only.
Target and levels are given on chart.
If you have any doubt or suggestion, do comment.
My personal view is bullish on MOTHERSUMI.