Head and Shoulder Pattern Breakout in MARUTI for target of 6132-

Short

MARUTI SUZUKI IND (NSE:MARUTI)

NSE:MARUTI MARUTI SUZUKI IND

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supportandresistance headandshoulders indicator breakout maruti swingtrading

In today's session, Maruti gives head and shoulder pattern on the daily chart . After this breakout huge downside expected. According to the pattern projected target possible 6132 in the upcoming few trading sessions. 6740 and 6300 levels will act as intermediate support during this fall.

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Comments

Head & Shoulder pattern has one very bad habit . After breakout,very often it again come above neckline ...... force shorters to cover & only after that happens ....... it goes down .

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U are great sir.

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Check ICICIPRULI and BATA INDIA

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it will take support at 6950-7050 level, as at this level MARUTI touches 200DMA and 50WMA. If it takes support at those levels one can expect for long in MARUTI.

Note: This is only an educational discussion not a investment suggestion.

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siva5313

@siva5313, can we take march pe 630

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