Sanjan91

MARUTI SUZUKI PRICE ACTION ANALYSIS. LONG IDEA

Long
NSE:MARUTI   MARUTI SUZUKI IND
Maruti's price has fallen significantly recently. This pattern is perfect to be called a Shark pattern. After a second impulse, the correction went too deep and is expected to be reversed from the PRZ.

This is XABCD bullish shark pattern has extensions 0.886-1.13 which form the potential reversal zone (PRZ).

We can also a downtrend line is broken, but for confirmation wait until the price breaks the supply zone . Any rejection from the supply zone might throw the price near the demand zone .

Buying from a PRZ gives us a high risk-reward ratio. The stop loss and target levels are mentioned on the chart.

Happy trading :)

This is just for educational purposes.
Trade closed: target reached: Hit our target 2 and then reversed