AbhishekHSinghCMT

Maruti- Possible Reversal from channel top@5658 Highs

Short
NSE:MARUTI   MARUTI SUZUKI IND
12
6th Jan2017 - 15:20 Hrs

Last price@5614

Maruti could be on reversal from tops@5658 -it took out the channel marginally but reversed back within the channel so going forward below 5590- Maruti could be in pressure or wait for a bounce back between 5635-5645 for taking sells with stops above 5658.

Target Zone
We could be open in 5300-5325-- Below 5300 for 5050-5100 - Below 5035 Double Bottoms- Bhagwan Bachaye.
Trade active: 19:26 Hrs 9th Jan2017

Closing Price@5675

Lost 15 points & stop loss got hit -after a long time - entered in pullback for short trade between 5635-5645 with stops at 5660.

Likely, I will wait to see further price action & shall come back again

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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