Stock Analysis Series - Motherson Sumi: (My 1st Swing Trading)
Stock Analysis Series - Motherson Sumi: (Bought for Swing Trading):
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My Analysis:
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** Daily Timeframe **
1. During the covid crash, it fell to a low of Rs.54 and rallied since then.
2. ATH is Rs.259 on 3rd June and started to fall gradually.
3. Forming Ascending triangle pattern with the same level of Resistance and increasing Support - buyers are aggressive.
4. I bought at Rs.212.95 (10 quantity) to try my first swing trading after this technical analysis.
5. Aiming for a 10% target of Rs.244 - created GTT in Zerodha while buying to control my emotions.
6. Let's see how this goes.
Note:
I'm not recommending buying this stock. This is for education purposes.
This is my view, based on my learning.
Please do not trade without your own conviction.
Please invest after careful research. I'm not responsible for your profits/losses.
- Gnanasekaran
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My Analysis:
------------
** Daily Timeframe **
1. During the covid crash, it fell to a low of Rs.54 and rallied since then.
2. ATH is Rs.259 on 3rd June and started to fall gradually.
3. Forming Ascending triangle pattern with the same level of Resistance and increasing Support - buyers are aggressive.
4. I bought at Rs.212.95 (10 quantity) to try my first swing trading after this technical analysis.
5. Aiming for a 10% target of Rs.244 - created GTT in Zerodha while buying to control my emotions.
6. Let's see how this goes.
Note:
I'm not recommending buying this stock. This is for education purposes.
This is my view, based on my learning.
Please do not trade without your own conviction.
Please invest after careful research. I'm not responsible for your profits/losses.
- Gnanasekaran
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