Maruti is an interesting chart with following
1. RSI on all time frames above 60
2. Stock closed near 52 week high zone
3. Price close within 2 year and 5 year high zone
4. Price Making higher highs for last 3 days
5. ABCD candle on weekly chart with huge green candle and high volume
6. Major Support 10380 - 9800 zone
7. Next Major resistance near 11500 zone
Caution : Maruti is in strong uptrend and is trading in a rising channel for last many weeks and years. Stock can face immediate resistance near the price channel high.
Lets see How it evolves
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on all time frames above 60
2. Stock closed near 52 week high zone
3. Price close within 2 year and 5 year high zone
4. Price Making higher highs for last 3 days
5. ABCD candle on weekly chart with huge green candle and high volume
6. Major Support 10380 - 9800 zone
7. Next Major resistance near 11500 zone
Caution : Maruti is in strong uptrend and is trading in a rising channel for last many weeks and years. Stock can face immediate resistance near the price channel high.
Lets see How it evolves
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Trade closed: target reached:
ALL TARGETS MET AS STOCK MADE HIGH OF 12985