This is Motherson Sumi daily chart.
The price is consolidating in a head & shoulder pattern.
And for support levels we can see the rejections are getting weeker.
So there is high chance that it will break this level of 227₹. If it breaks this level we can see a downside upto 215₹-212₹
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to break out or break down. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
For Educational Purpose Only.
Mothersumi has taken support from the resistance turned support at 235 and the uptrend line to form a pole and flag pattern. Watch out for a break above the upper edge of the flag and the 52 week high for a target of fibonacci pivot.
Note: Please do not follow my idea blindly, analyze yourself as well. I just share my idea so that people can build upon the same....
Hey everyone!
There is a rounding pattern formation in Motherson Sumi. Go through the chart, it is self-explanatory. I'm long on this stock as fundamentally also it is very strong. The results are on 4-6-21. So keep it on your watchlist.
Feel free to share any reviews or feedbacks.
Disclaimer: This analysis is only for educational purposes.
NSE:MOTHERSUMI
It is trading inside a uptrend channel. Currently made a rejection candle at a confulence area( channel support+200ema/5min+61.8%of fib level).
a good momentum can be seen above the marked levels
ITS A CUP & HANDLE PATTERN BREAKOUT..
GOOD TO BUY AT THESE LEVEL..
CMP : - 244
TGT : - 260 ++
SL : - 220
Company has been maintaining a healthy dividend payout of 33.17%.
Go long if price holds the level of 205 for target of 220/225 . Later Sell the stock facing resistance near 225 area.
If prices failed to cross 205 & later breaks below 195 then go short for the target of 180's & 175.
breakout with heavy volumn .....
More good really will come in upcoing trading session..
If it sustain above 226 on 1hr candle then the targets as shown in charts
BUY ABOVE -226 or 227
SL-218
Take trade wisely as per ur risk ...
MOTHERSUMI TRADING SCENARIOS FOR UPCOMING WEEK WITH RISK-REWARD
Please watch through the end.DO NOT skip any part of the video or fast forward as you may miss important discussion point on the levels and entry exit triggers.
This is my view and is should not to be construed as BUY or SELL recommendation. Please use your discretion before taking any position in...
