The stock hit a 52-week high of Rs 103 on 5th September 2023, but failed to hold on to the momentum. It witnessed lower lows on the weekly charts and that formed a channel structure. The stock finally found support above the 50-week Moving Average on the weekly charts above Rs 80 levels. It has recently found momentum since November, which helped Motherson break above the falling trendline of the channel on the weekly charts.
