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...
If we look at the 1 week timeframe, the picture becomes clear for MOTHERSUMI. The stock is yet to break it's upper trend line. Once the candle closes above the upper trend line, it can be bought for good returns. But until it's broken, you shouldn't jump into it directly. Have patience and wait for the stock to break the trend line. For now add it to your watch...
On the 2 Hour Chart of MOTHERSUMI, we can witness a beautiful Formation of "Bullish Harami" on the downside levels. Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Where the stock is being expected to face a resistance initially at around the levels of 225.40, 230.35, and 234.20. Whereas, on the other hand,...
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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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.
As we can see #mothersonsumi system has formed an inverse cup and currently forming a channel where we can expect few levels for a short-term period.
Below is the level
Level 1:- Closing and Sustaining above 221.95
Level 2:- 230 (Once this target is achieved we can expect a shortfall followed by a small bull run)
Also, the indicators are showing a good buying...
Mothersumi broke the triangle pattern and gone short last week and now it has made a good reversal from the support and is bouncing back. So we can expect a high in coming days.
Note: The suggestion is only for Education purpose.
NSE:MOTHERSUMI
On Daily Time frame it has broken 100DMA and and still trading below 100DMA since last 2 days.
It has trapped most of retail traders with their own sentiment that it will shoot up like a rocket on Result day like it did in previous result day.
But going in Market with sentiment is always risky.
Right now it is in Critical Zone between 220-226...
NSE:MOTHERSUMI
Chart is self explanatory about positional trade setup on buy side only.
Target and levels are given on chart.
If you have any doubt or suggestion, do comment.
My personal view is bullish on MOTHERSUMI.
NSE:MOTHERSUMI
Chart is self explanatory about positional trade setup on buy side only.
Target and levels are given on chart.
If you have any doubt or suggestion, do comment.
