Maruti: Rising Flag, Dropping Probability

Structure

• The decline into Wave W is complete as a Regular Flat.
  
• The rebound is a corrective Wave X, fully overlapping and contained within a rising channel.
  
• Bias remains bearish as long as price trades inside this channel.
  

Wave Y Setup

• Trigger: Breakdown below the channel near 16000.
  
• Entry: Preferable after a break and retest of the lower channel line.
  
• Target: Toward 15,260 to complete Wave Y.
  
• Invalidation: A decisive close above 16,549 invalidates the bearish view.
  

Summary
The current rise is a corrective phase, not a trend reversal. The higher-probability outcome is a continuation lower into Wave Y unless the channel breaks to the upside.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.