After demonitisation maruti has recovered on charts.
but the fundamental consumption problem persists.
On charts as well- Maruti opened on gap downs two times last month. Now last of these gaps are filled at 5675 and the market is hitting horizontal resistance lines as well hitting upward trend channel resistance.
It's nice time to mint some money from shorting Maruti
Entry - 5675-5687.
Stop loss - 5720
Target1 - 5596
Target2-5500
It may drop more but that is solely on the risk levels of trader.
Regards,
Learn2Earn
but the fundamental consumption problem persists.
On charts as well- Maruti opened on gap downs two times last month. Now last of these gaps are filled at 5675 and the market is hitting horizontal resistance lines as well hitting upward trend channel resistance.
It's nice time to mint some money from shorting Maruti
Entry - 5675-5687.
Stop loss - 5720
Target1 - 5596
Target2-5500
It may drop more but that is solely on the risk levels of trader.
Regards,
Learn2Earn
Comment:
Trade Active
Trade closed: stop reached:
Stop Triggered....Nifty fell Intraday only after hitting entry levels but recovered soon. Trade closed.
Comment:
* Maruti not Nifty