As seen in Maruti , there is a change of polarity and a bounce can be expected from these levels. Also it is taking a support at trendline as seen by the upward green arrows, giving us an opportunity to buy.
Expected Levels- 5040 (.236 Fib retracement of the last swing), 5220 (.382 Fib retracement of the last swing)
Change of Polarity states that once the resistance level is breached, it changes its nature and becomes support the next time it is approached.
Expected Levels- 5040 (.236 Fib retracement of the last swing), 5220 (.382 Fib retracement of the last swing)
Change of Polarity states that once the resistance level is breached, it changes its nature and becomes support the next time it is approached.
Comment:
First target reached. Cmp 5070.
Comment:
book profits 5155. Auto stocks gets volatile during sales number release.
