Motherson Sumi - Double Top pattern
CMP: 216.50
S1 : 210.90
S2 : 199.50
R1 : 235.50
R2 : 257.15
PS: One can short now for the target of 210 with a SL of 221.70
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 as per monthly, weekly and daily chart analaysis its in consolidation phase and once it breaks above 260 level then its a multi year break out and target 270 level.
NSE:MOTHERSUMI
#MOTHERSUMI 240 CE shared @ 5 now @ 17.5 absolutely 250% till now and zoooming !!!!
Potential upside marked on chart !!
Details shared for reference !!
Happy Trading !!!
As you can see in the chart, there is a trendline breakout in the mothersumi share,
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You can see in the history there is a strong resistance of 227 stock tested multiple times,
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If stock goes above 227 on tomorrow, you can buy this trade for the target of 335.
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What's your view on this comment below in the box.
MOTHERSUMI (Motherson Sumi) has completed a short-term correction and is poised for the next leg of upmove. 253 and 270 are the next targets in my opinion, with a day close below 220 as SL.
Disclaimer: This is not a trading recommendation, but is only a predictive analysis for information and follow-up. NEVER trade without a protective stop-loss in place.
share 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
As you can see in the previous day's chart, there is a strong support at the level of 240.
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Stock is in downward from last so many days, now the stock reversed from the level of 236 and given the green candle closing.
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Tomorrow stock will retest 240 level, if stock goes above 242 you can buy this trade.
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What's your view on this comment below in the box.
This is one of the fundamentally strong company with consistent good returns.
The price is near the 2018 high and facing little resistance. With perfect risk: reward it can deliver minimum 25% returns in very short time. The price can move like Tata motors did.
mothersumi stock analysis , formed rising wedge pattern but maximum bullish so buy at support and sell at resistance , this videos for educational purpose only
