Motherson Sumi: Ahead Of Result--What's The Chart Is Saying ?

Further upside only sustaining above 280-285 till 305-322-335;

Otherwise 255-245-235 may be on the card again

Q3FY16 expected PAT (consolidated) around Rs.355 cr 

Against Rs.400.68 cr (YOY) & Rs.382.48 cr (QOQ)

(Before minority interest & share of associates)

 

CMP: 272

Sell around 276-280;

TGT1: 262-255-245-235 (1-30 days)

TGT2: 223-215-200 (1-12M)

TSL> 285

Note: Consecutive three days closing above 285 zone for any reason, MS may further rally towards 305-322-335 & 360-385-396 area in the mid to long term (alternative bullish case scenario from the present level).

Expected Q3FY16 EBITDA is around Rs.1010 cr with margin expansion 9.5%.

All eyes will be on the EU & China operations for expected surge in demand and 20% increase in EU revenue.

Q3FY16 expected revenue (consolidated) is around Rs.9400 cr against Rs.9149 cr (YOY) & Rs.9198 cr (QOQ). 

Technically, MS may be in A-wave in the daily EW cycle (corrective) and sustaining below 278-280, the corrective B-wave target may be around 257-245.

Analytical Charts: