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Motherson Sumi Buy Sell Hold decision should be based on the majority view of multiple trading system and setup. On price action, Motherson Sumi is trading in a channel from last year and a half. Currently the key support and resistance level suggests a favorable risk-reward ratio.
Motherson Sumi is one of the few stocks that follow the Heikin Ashi and Stochastic RSI setup. On Fibonacci retracement, the levels of 23.6% and 50% are crucial for the stock. It is trading at 20-period Exponential Moving Average. It also follows the 200-period Exponential Moving Average. If you are not comfortable with technical analysis then you can trade just based on the moving averages.
The price volume analysis suggests that there is delivery based activity in the stock. The option chain analysis of the stock is showing a clear trend short term trend of the stock.
The Motherson Sumi stock does not have any correlation with the movement of the nifty. It is part of Nifty Auto index and this index is currently underperforming. In last one year, the max beating is taken by Motherson Sumi. However, the returns of the last one month is highest among all 15 auto stocks in Nifty Auto Index.
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