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Mothersonsumi

Simple Trade Setup | MOTHERSUMI | 02-05-2022 [INTRADAY]NSE:MOTHERSUMI Observations: 1) On 1hr time frame, we can see it has been trading in 10point range from 132-142. Please refer below chart : 1hr time frame. 2) On 15min time frame we can see it is at the support channel. There can be chance if it takes support from it then we can see an buying but remember immediate breakout level is 142. But if it gives breakdown of this channel and then retest it and face resistance from it then we can see down move to continue and immediate breakdown level is 132 Till then in range of 132-142 one can trade with scalping. Please refer below chart : 15 time frame. ------------------------------------- Trade Setup for 02-05-2022 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
M
by Trading_hawk
2
Perfect Trade setup using Price Action & Indicator confirmationThe chances of trade being successful increase when you combine Price action with Indicators. This Trade setup uses Weekly and daily timeframes and two indicators – RSI & MACD. Stock: Motherson Sumi CMP: 135.65 Type: Swing Trade (delivery) Buy level: 139.50 (on a breakout above rejection candle high on weekly timeframe) SL: 119.40 (Slightly below rejection candle low on weekly timeframe) Target: 199 Risk/Reward ratio: 2.9 The rationale behind the setup: The chart formed strong resistance at 123rs which was broken by a strong green candle accompanied by above-average volume. The stock rallied up to 272 and then entered the correction phase. Once resistance is broken, it turns into support (change of polarity principle). As shown on the chart, a strong rejection candle with high volume was formed at the resistance turned support level.
MLong
by Sai_Kumar
6
Part 3: Elliott Wave Principle - Double three correction guideIt 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 labeled X. Wave formations: Waves W is a zigzag correction pattern. Wave Y triangle. Wave X could form any correction pattern. Wave X is smaller than wave W & Y. Rules and objectives: 1. Double three is a corrective structure that includes more than one type of corrective pattern. 2. It consists of three waves, which are marked W-X-Y. 3. A triangle may occur only as wave Y in a double three. 4. In most cases, double threes are not deep corrections. 5. wave Y usually ends at 100% – 161.8% Fibonacci extension relative to wave W. 6. Wave Y should not go below the 161.8% Extension of Wave W. It shows that the corrective trend is strong. 7. There never appears to be more than one triangle. What are the double threes? Price picks up momentum when it starts an impulsive wave. After accomplishing the impulsive wave, it corrects the previous move by a three-wave pattern. These three waves were not enough to complete correction because of the high momentum & directional power of an impulsive wave. Price creates another three-wave move to complete the correction by merging through intermediate wave X. Let me make it easy by explaining and structuring examples. Double three Structure: Real Example:
MEducation
by forextidings
68
EXPECTING AN UP RISE IN MOTHERSUMIOn the 2 Hour Chart of MOTHERSUMI, we can witness a beautiful Formation of "Bullish Harami" on the downside levels. Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Where the stock is being expected to face a resistance initially at around the levels of 225.40, 230.35, and 234.20. Whereas, on the other hand, on the downside levels the stock can face a support at the level of 215.2, on a closing basis. Closing Price (as on 15.12.21) : 221.50 Disclaimer: No financial information whatsoever published here, should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for Educational and Information purposes only and under no circumstances should be used for making investment decisions. Viewers must consult their personal financial advisor before making any actual investment decisions, based on information published here. Any Investor or Trader taking decisions based on any information published here, does so entirely at its own risk. Investors and Traders should bear in mind that any investment in Stock Market is subject to unpredictable market-related risks.
MLong
by alokdaiya
motherson sumiMotherson 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 retracement mode. presently it formed W pattern with following features: 1. up-wedge breakout with volume. 2. Neckline breakout with volume. 3. strong candle close on daily chart can show new 52 week high with sl of 222 on daily closing basis in 90 days. will track for nxt 3 months n will grab FNO opportunities which gives good RR. will update if taken any fno trade.
MLong
by yogeshna