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Motherson in a symmetrical triangle consolidation.
SAMVARDHANA MOTHERSON INTERNAT
Motherson in a symmetrical triangle consolidation.
By Mambotrade
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Sep 15, 2022
3
Sep 15, 2022
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 out of the triangle with volume confirmation, a swing trade can be initiated.
Targets :- 132, 135, 144
Stop Loss:- 121
The decrease in the volume is also showing the consolidation phase of the stock.
Wait for a break out and its retest to initiate the trade.
BANKNIFTY
bankniftytrend
mothersonsumi
mothersonsumilong
mothersonsumisystems
MOTHERSUMI
mothersumilong
Multiple Time Frame Analysis
NIFTY
niftyanalysis
Trend Analysis
Triangle
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