Immediate Target ~9600. SL below 9000. Maruti put OI has max addition at 9000 strike and call OI has max addition between 9400-9700 strike. These could form the basis of SL & Target. Also ref to the fibonacci levels on the chart for target/SL.
- shows that 200 MA was support for some time. Now it has decisively bounced off that line (purple line on chart)
- Today's daily candle (4th July) has touched the Upper (2 std dev). That usually results in the candles climbing along the upper band for some days.
- shows Chikou Span emerging clear from all congestion on the Chart. is 13 which is low but that has great scope to go up. And D+ has clearly crossed over D-
- The Weekly chart shows this week's developing candle has taken support at the top edge of the Senkou Span in the and the Stochastics are crossing the 50 line. That looks good.
There could be some retracements obviously (so please be careful) but I will hold my long position for some time since I am going by the weekly and only and have traded long (with some profit booking) since May 30th when I posted my earlier Maruti chart.
These are levels to watch out for before going long
Today I again went long in hte futures market. Shall post my analysis this weekend