Sell MOTHERSON SUMI SYSTEMS
| CP# | 89.75 |
| Idea | SELL |
| Sell Range | 92 – 87 |
| Target | 80 – 76 |
| StopLoss* | 96 |
| Duration | 10 – 12 Trading Days |
| Potential Returns^ | 11 – 15% |
| CP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Returns^ |
| 89.75 | SELL | 92 – 87 | 80 – 76 | 96 | 10 – 12 Trading Days | 11 – 15% |
# CP – closing price on March 11, 2020
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 85.
^ Potential returns are calculated based on the median of sell range.
COMPANY OVERVIEW - MOTHERSON SUMI
Motherson Sumi Systems Limited (MOTHERSUMI) is the leading, specialized automotive component and original equipment manufacturing company having a diverse global customer base in India, North America, Europe, Australia, Asia Pacific and Middle East. The company offers wiring harnesses, exterior and interior, camera-based vision systems, polymer products and a range of applications including automotive, medical, home appliances etc. In Q3FY20, the company’s net income was decreased by 5% to Rs. 15,661.09 crore and Net Profit dropped by 39.39% YOY to Rs. 318.51 crore.
| Stock Data | |
| NSE Code | MOTHERSUMI |
| Sectoral Index | Nifty Auto |
| 52W High | 175.6 |
| 52W Low | 88.3 |
| Face Value | 1 |
MOTHERSON SUMI TECHNICAL ANALYSIS (WEEKLY)
- Bearish head and shoulder formation since July 2014 onward with the neckline of the said pattern seems to exist around 92.
- Motherson Sumi has given breakout below the right shoulder on weekly chart with incremental volumes.
MOTHERSON SUMI TECHNICAL ANALYSIS (DAILY)
- Looking at the daily chart, Motherson Sumi Share price has seen a spectacular fall by moving in a strong downtrend indicating negative bias.
- ADX is above 70 confirms selling momentum and – DI crossing above 30 indicates probable further fall. Being a lagging indicator, it confirms once the direction is clearly established.
- RSI turned bearish on the daily chart.