Maruti (At a Crucial Juncture ?)
Maruti has formed a beautiful long term triangle and now looks like it is on the verge of a breakdown/reversal. In case of a breakdown multiple targets can be set which the green/yellow lines acting as Stoploss (9EMA (Green Line) and 50 EMA (Yellow Line). The Red line could be the first target (200EMA), however if the trend is strong the price might continue to slide down. On the upper end the yellow lines could act as resistance and hence trade targets.
The market as of this week should ideally pick up a short term trend on the back of Joe Biden being elected as president and hence the sentiment/price action shall follow. Some Volatility might be expected on the back of announcements made by the incoming president or any hurdle posed by trump which he is likely to do and there might be a sudden reversal in the trend.
So as for a trader these situations can be very tricky and might cause losses in a very short time. Please be careful and trade with caution.
The market as of this week should ideally pick up a short term trend on the back of Joe Biden being elected as president and hence the sentiment/price action shall follow. Some Volatility might be expected on the back of announcements made by the incoming president or any hurdle posed by trump which he is likely to do and there might be a sudden reversal in the trend.
So as for a trader these situations can be very tricky and might cause losses in a very short time. Please be careful and trade with caution.
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