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-573.38
-169.60
+ 451.00
+ 1,908.00
+ 618.00
-573.38
-169.60
-169.60
+ 451.00
+ 451.00
+ 1,908.00
The stock of Samvardhana Motherson International has been steadily falling since mid-October. It started to depreciate after facing a barrier at ₹215. By mid-December, it slipped below key support at ₹160, which henceforth will act as a resistance. Although the stock recovered last week, the bear trend remains undisturbed.
The stock is now near the 20-day moving average at ₹152. Also, ₹155 is a potential resistance. In addition, the falling trendline coincides with ₹152, making it a strong resistance. Therefore, we expect the stock to see a downswing, possibly to ₹140, from the current level. Traders can short the stock at ₹152 and place a stop-loss at ₹158. When the price drops to ₹144, revise the stop-loss to ₹150. Book profit at ₹140.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
Published on January 20, 2025
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