Maruti - At Crucial Support

Currently, the price action failed to cross above the initial resistance level of 6650-6670 (indicating continuation of prevailing down trend) and came back down to test the previous strong and crucial support. Now, if the price action got further weaker then it may break the crucial support range and goes further down to 6000 levels. It shall be the continuation of the prevailing down trend as previous trend is forming Lower Highs and Lower Lows. Keep a watch on closing of the price action and if it goes below support, be prepared to short it.
Target: 6000
Stoploss: 6650
Risk Reward: (1:4)
Trade active
Comment: 100 points down in 15 mins
Comment: It did close below the crucial support zone, indicating further weakness in the next week.

Trade closed: target reached
hi, how can you guys short on swing strategy ? i spoke to my brokers they said its not allowed.i can short only on intraday . suggestion will be highly appreciated .
Just Wow, target reached, superb call Neetesh, keep doing this good work :-)
+1 Reply
@MCM99, Yes, hope you had a good one
OI data is also suggesting 6000 as PUT has Max OI
Yep, true that, thanks Neetesh
@MCM99, Anytime, have a good one. Regards
Wow, in the money now :-)
+1 Reply
@MCM99, Yes, totally on time, now it looks like next week will further exciting. All the best
very good analysis, got into the trade
+1 Reply
@MCM99, it is a good trade setup, stay in, sit tight. All the best.
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