Motherson Sumi

• 19 June, 2024 Ruchit Thakur

Motherson Sumi

Motherson Sumi appears to be a strong long-term investment, as the stock has surpassed its all-time high and is rising.

Please analyze the weekly chart of Motherson Sumi Wiring India Limited and understand its structure. As shown in the chart, Motherson Sumi is a good buy in the 74-76 range, and it has performed admirably so far, with significant upside potential.

Please examine the Motherson Sumi Chart. Following its breakout from the 74-76 region, the stock is trading above horizontal resistance and continuing to rise. Motherson Sumi is now seeing significant demand in the 74-76 range, as illustrated in the graph. The predicted rise is 95-100, as illustrated in the chart below. 

• Motherson Sumi is an excellent long-term investment opportunity because it has demonstrated a reasonable breakout around the 74-76 level and is currently on the rise.
• Motherson Sumi appears to be in a solid position on the chart, with potential for further increases to 95 and 100.
• As of now, 74-76 is the best opportunity to acquire this company because the risk-to-reward ratio was ideal for a cash transaction.
• Motherson Sumi broke out of the ascending triangle pattern, and the objective range may be 95 to 100, according to the pattern.

Please refer to the Motherson Sumi weekly chart for reference. The weekly chart shows horizontal resistance and breakout, as well as demand in the 74-76 range, and the stock is gaining after accounting for the strong demand in the aforementioned range.

Please take note of the horizontal resistance and its breach, which resulted in the stock establishing a new all-time high today, indicating a strong opportunity to buy at the current market price. So far, the stock has tracked the chart's upward trend, reaching 95 and 100, respectively.

Motherson Sumi emerged from the rising triangle, and the pattern's present objective is between 95 and 100. An ascending triangle is a chart pattern used for technical analysis. Price movements create a horizontal line along the swing highs and a rising trend line along the swing lows. The two lines form a triangle.

Investors may look for a long-term purchase opportunity in the 74-76 range and take advantage of any dips that occur as the stock is in strong demand, perhaps leading to a recovery to the 95 and 100 levels, indicating a positive risk-reward ratio. Use every dip to buy this stock since it has a high upside potential, and every dip is an opportunity to invest.

Investors could buy the stock with cash for a long time and put a stop loss at 60 to accomplish price targets of 95 to 100.

The Motherson Sumi weekly chart shows both support and resistance. The spot chart illustrates each level.

Company Profile: Motherson is an expert in wiring harness solutions in India. Motherson Sumi Wiring India Limited is a leading and quickly growing full-system solutions provider to OEMs in the wiring harness industry in India. The company delivers excellent value to all stakeholders, including customers, investors, employees, and the communities in which it operates. 

Companies have grown, strengthened, and become more diverse as a result of our customers' trust, bringing us closer to our goal of becoming the preferred provider of sustainable solutions. Motherson Sumi is well-positioned to expand and capitalize on the vast potential of the Indian market.

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