Smavardhana Motherson stock target: Stock Radar: Samvardhana Motherson hit fresh 52-week high in January; should you buy, sell or hold?


Short-term traders can look to buy the stock now for a target of Rs 134 in the next 1-2 months, suggested experts.

Synopsis

The stock witnessed strong momentum in the last quarter when it bottomed out above 80 levels in November 2023. Promoters have increased their holding sequentially from 64.77% to 64.78% in the December quarter. Mutual funds, too, have hiked their holding from 11.95% to 12.22% in the same period, Trendlyne data showed.

Smavardhana Motherson International, a part of the auto component space, hit a fresh 52-week high in January and the chart pattern suggests that the momentum is likely to continue.Short-term traders can look to buy the stock now for a target of Rs 134 in the next 1-2 months, suggested experts.The stock hit a fresh 52-week high of Rs 118 on January 29, 2024, for the first time since January 2022. It witnessed a strong momentum in the last quarter

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