MothersonSumi has broken its long trading range and volume looking good as well.
Motherson Sumi price moving between ascending triangle price pattern. As per my understanding we can breakout tomorrow and day tomorrow. Possibilities are for tomorrow. Upside target 95/96/97 if any-case we can't see the breakout stock will travel to downside triangle boundaries and than bounces back.if any case unable to sustain and we see breakdown that...
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Note: This is for educational purpose only. There is no confirmation yet but seems there might be a channel breakout (bearish) as there is huge selling volume. However, confirmation is needed as the channel has not broken downwards.
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...
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
Ascending channel formation on short term and made LL-LH and HL-1 Short term target - 120
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
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
Long Auto Sector: A month-long consolidation breaks.