MARUTI on a high stock analysis:
Updated
Maruti has already made a double top pattern previously followed a continuous move towards up, and formed a curve where buyers and sellers were both confused where the direction of the stock is?
After forming a double top pattern the stock has moved towards down direction.
At current level it is forming a disjoint channel, and the stock is moving near the resistance line. Till now buyers were more active the stock has moved to resistance line buyers may fear to invest and stock price will fall.
We can expect falling price till 6366.
To be in safe side if there will be up break the price will be bullish 7351 above.
After forming a double top pattern the stock has moved towards down direction.
At current level it is forming a disjoint channel, and the stock is moving near the resistance line. Till now buyers were more active the stock has moved to resistance line buyers may fear to invest and stock price will fall.
We can expect falling price till 6366.
To be in safe side if there will be up break the price will be bullish 7351 above.
Trade closed: target reached
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