Stock of the day : Motherson Ltd For Target Rs. 127 - Religare Broking
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MOTHERSON
* MOTHERSON has been in a steady uptrend from past more than three months, forming series of higher highs and lows.
* It has witnessed breakout from brief consolidation holding above it short term moving average .i.e. 20 DEMA.
* Following price action and uptick in volumes suggests price is set to surpass its previous swing high.
* We thus recommend creating fresh longs in the mentioned range.
BUY MOTHERSON Ltd CMP 119.20 ; Range118-120 ; SL 115 ; Target 127
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