Samvardhana Motherson International Ltd
Samvardhana Motherson International Ltd. shows the stock forming a symmetrical triangle pattern, signaling, an upward move with the price currently testing the upper trendline, suggesting a potential breakout. The stock has been in an uptrend since mid-March, trading above the 21-period EMA at ₹192.20, indicating a bullish sentiment. A recent green candle with a 3.31% gain and an RSI of 63.01 suggests growing buying momentum. Volume has been lower during consolidation but could spike during a breakout. Key levels to watch are resistance around ₹205-₹207, where a breakout with volume would confirm further upward movement, and support at ₹192, where a breakdown could signal a reversal. Overall, the stock shows bullish potential with a likely breakout if resistance is breached.
Penafian
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