MARUTI | Descending Triangle observed

Descending Triangle pattern spotted in Maruti . Depth of pattern looks to originate from 7950 towards the base of 6500, forming a considerable 1450 points. Pattern could be considered valid once the price closes below 6500. Further, if the pattern is confirmed technical target would be at 5050 based on the pattern. That accounts for a fall of 22% from 6500. Hence 6500 is a very critical level for the stock.


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