Motherson Price ActionBuy Motherson On Any Weekly Close Above 97.05
SL - 90 ( Weekly Closing Basis )
Target - Open
Mothersonsumisystems
Motherson in a symmetrical triangle consolidation.Motherson sumi has been consolidating in a triangle pattern from the month of April and is respecting the trend line on daily time frame.
It is trading around its 20 DMA. The volume indicator is showing decrease in volumes.
On weekly analysis, the stock is taking a resistance from its 200 ema and both the moving averages are close enough.
If the stock breaks out of the triangle with volume confirmation, a swing trade can be initiated.
Targets :- 132, 135, 144
Stop Loss:- 121
The decrease in the volume is also showing the consolidation phase of the stock.
Wait for a break out and its retest to initiate the trade.
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.
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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.
Mothersumi support @cmp. High probability trade.Hello traders another chart that caught my eyes was Mothersumi, I have analysed and traded it in the past.
Mothersumi is taking support from it's long-term trendline and also from the existing channel pattern it is trading in.
RSI have room for bulls.
MACD looks good.
Buy near - 210-215
Targets mentioned in the chart above
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Motherson Sumi Systemsshare 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
