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The stock of Motherson Sumi Systems surged 12.7 per cent accompanied by extraordinary volume on Wednesday, decisively breaking a key resistance level at ₹67. Investors with a short-term view can buy the stock at current levels.
Following a sharp fall in the stock price in early March, the stock recorded a 52-week low at ₹48.5 in late March. Subsequently, triggered by positive divergence in the daily RSI, the stock changed direction and began to trend upwards. The stock has formed a key support in the band between ₹48 and ₹54.
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