SIWNG IDEA - MOTHERSON SUMI 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
