MOTHERSON SUMMIT Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock is moving in a range bound zone, Sharp move expecting once stock comes out from its range bound zone. (Updated On 12th August 2014, Tuesday).

MOTHERSON SUMMIT

• MOTHERSON SUMMIT is moving in a range bound zone in daily chart, close watch chart indicates sharp move expecting once stock comes out from its range bound zone, (Closing above or below on either side).
• Daily chart also indicates stock is moving up from 50 days moving average support zone , by looking at chart closely it indicates that from last 2 times stock took its 50 DMA support and bounces back and this time too it is moving up from 50 DMA as shown in graph no2. Stock major trend indicator  "stochastic oscillator" is moving in a positive zone, this indicates stock to move up from current levels.
• Suggested Reading - CUMMINS INDIA moving in a up channel formation, stock to favor bulls.
• If stock closes above its range bound zone   (383) and stays above then will find next strong resistance around 409 its 161.8% fibonacci retracement and shown in graph no3. But if stock close below 340 and stays below then bear will get active in Motherson Summit and we can see some further weakness as long as stock trades below it range bound zone.
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