Visionary_Growth_Insights

SIWNG IDEA - MOTHERSON SUMI

Long
NSE:MOTHERSON   SAMVRDHNA MTHRSN INTL LTD
The current market conditions suggest a favorable buying opportunity in MOTHERSON SUMI, presenting astute investors with the possibility of capitalizing on potential gains.

Reasons are listed below :
  • Following rigorous testing at the 98 levels, the resistance has shown signs of weakening, heightening the likelihood of an imminent breakthrough.
  • Stock is in Uptrend i.e higher highs are being made.
  • Price moved from 62 to 103 and then retraced till 0.382 Fibonacci level and is now breaking out.
  • Price is above 50 and 200EMA i.e the trend is intact.

Target - 123 // 134
StopLoss - Weekly close below 90
Comment:
stock made a high of 6%.
HOLD for targets!
Trade closed: target reached:
1st target done
we got 20%+
Comment:
trend looks intact, we can hold this trade for further targets.
Comment:
Made a high of 27.4% from our buying price, we can hold for 2nd target.
Comment:
Made a high of 30% ++
We are close to 2nd target
Trade closed: target reached:
2nd target achieved : 33% ++
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