Motherson Sumi near support and 200dma
On upper side if breaks 108, First Tgt 115, 121 (treandline resistance)
Sl can be maintained below the support line (104.35)
Swing short should be avoided as long as it doesnt break 200 dma as well.
Motherson Sumi Systems Limited : Joint Venture ( NSE:MOTHERSUMI ) is Making Strong SR Channel Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this...
Mothersumi s levels are clearly explained in the picture.
Our analysis is based on 1 Hr charts and we believe 1 hour charts are a perfect tool for the daily trends and intraday analysis. Our support and resistance levels are unlike others , we opt for hourly charts and technical analysis. Our analysis is based on levels , algorithms which we created , beyond...
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.