NSE:MARUTI Maruti Ltd on 2-hour timeframe You can see a wide channel forming and currently trading at major trend + channel support trend line.
The probability of reversal is very high.
Entry has 2 Scenarios:- 1. It can Give a breakout above 9565 directly or 2. It will again test the support zone and forms a double bottom pattern and then breakout above the entry point.
You can plan SToP below the previous swing low or you can plan just below the current support lines. The further Resistance zones are marked on the chart.
Trade after doing your own analysis. These are my Views please comment your views on this idea so we can improve together.
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Maruti on WTF is just suffocating in between 9550 till 9800. Where 9800 is acting as an resistance. Maruti is just waiting for a trigger to break the barriers. Maybe it's just consolidating or one can say it's being accumulated within this levels. At this point of time Maruti should had been above 10000 & below 10200 levels.