Motisons Jewellers: Momentum Builds Above Key Averages

Motisons Jewellers closed at ₹18.30, gaining 2.01% in the latest session. The stock is trading above its short- and long-term moving averages, indicating improving technical momentum. The daily chart shows a clear improvement in price structure after a prolonged consolidation phase. The stock is currently above the 10 EMA (₹16.78), 20 EMA (₹16.36), 50 EMA (₹15.52) and the longer-term moving averages, keeping the short-term technical setup positive. Momentum indicators are also supportive. RSI is around 68, showing strong buying momentum and approaching the overbought zone, although it has not yet crossed 70. MACD remains positive, with the MACD line above the signal line and a positive histogram, suggesting that momentum is still favouring buyers. From a price-action perspective, ₹18.00–₹18.30 is an important zone to watch. Sustaining above this area could keep the recent upward move intact, while a move above the recent swing high may bring further buying interest. On the downside, ₹16.75–₹16.35 can act as an important support zone, aligned with the short-term EMAs. My view: The technical structure has improved considerably, but after the recent rise, traders should monitor whether the stock can sustain above the current breakout area rather than chasing sharp moves. What to watch next: Sustained price action above ₹18.30 and continuation in volume could strengthen the bullish setup, while a close back below the key EMA support zone would require caution. Disclosure: I have no financial interest in Motisons Jewellers. This is for educational purposes and not a recommendation to buy or sell.