Motherson Sumi Wires-P1 - Mid Term View
Motherson Sumi Wires charts on its Daily chart pattern shown clear formation of cup and handle formation complition followed by Volume & Price breakout (@66.95). Suggesting that script is now in good upward trend will attain new targets.
CMP: 70.95
Targets: 74 -82-86
SL: - 64
The likely resistance being at 74. Once it closes above this level the next possible target is at 82-86 zone.
Disclaimer: . The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
CMP: 70.95
Targets: 74 -82-86
SL: - 64
The likely resistance being at 74. Once it closes above this level the next possible target is at 82-86 zone.
Disclaimer: . The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
Trade active:
motherson sumi, has gone pass its into short term profit booking and now shown reversal on charts, will resume its northwards journey for the possible target of 77.80; Immediate resistance will be faced at 73.20 & 75.25 levels. stay invested with a strict stoploss of 66.85.