The stock of Motherson Sumi has been maintaining a strong base near 90 levels and has started picking momentum to indicate a positive bias
The stock has once again made a good support base near 340 levels and is currently indicating a trend reversal. Besides, the stock shows a positive bias after a decent correction. Also, the RSI has shown a trend reversal to signal a buy. We suggest to buy and accumulate the stock for an upside positional target of Rs 380-390, keeping the stop loss near Rs 335.
BUY MOTHERSON SUMI | CMP: Rs 94.90 | TARGET: Rs 110-118 | STOP LOSS: Rs 90
The stock has been maintaining a strong base near 90 levels and has started picking momentum to indicate a positive bias. It has got strength and has potential to rise further in the coming days. The RSI also has indicated a trend reversal to signal a buy and with the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 110-118, keeping the stop loss of Rs 90.
Disclaimer: The analyst may have position in one or all of the above mentioned stocks. Views are personal