Date: 29 June 2020
Motherson Sumi (CMP 95.30) has taken support at multiple times in the past. Likely chance of upside movement.
Today also stock priced retraced from the day's low and closed near the open price, slightly above the 20 DEMA level.
Immediate upside target will be 100 and down side for SL will be 87.85
Breakout above 100 with increasing volumes...
While we have been adding positions in Motherson Sumi first from 70 levels and again when it moved above a Triangle formation, there is a strong case for a fresh long. Friday saw some profit taking at higher levels leading to a long upper wick but the trend seems to be intact. A good buy set up can take the stock to 116 with a stop at 87. Go long for a positional trade
Mother son sumi has fall almost 90% from top.
The company fundamental is still strong and it wll be.
Short term impact has destroyed the price in past 2 year.
Target only for our paid members.
Keep sl below 47
Motherson Sumi has declared that 80 out of 152 plants globally are open. 30% of these are running at 80% capacity and remaining are running at 50% capacity. Permission is being sought for other plants also.
Motherson Sumi CMP: 81.70
Flag Pattern formation on hourly chart. Breakout above 82 will push the stock price to 96 level.
T1: 86.50, T2:...
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...