Maruti Suzuki Strategy

Jun 20, 2020

Basis price action between 18 May to 01 June Long position Exit is forecasted around 6190 supported by the fact of MACD, RSI Stochastic and the buy setup candle is still at 6. Accordingly time of exit should be reached around 23 June to 24 June.

Following strategy upon retracement post 24/25 June:

Short position Entry at 5877 with SL 5895
1st Cover at 5585
2nd cover at 5419 (Depending Price action)

Disclaimer: The author is not registered as a securities broker-dealer or an investment adviser either with SEBI or any other government agency. All views expressed is based on the author's technical analysis. It is highlighted that Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites, Derivatives, commodity and Currency can be substantial. It must be noted that the user of the information shall undertake their own analysis before investing or trading. The author of this information shall not be liable for any losses arising from the advice therefrom or incidental thereto.

Jun 21, 2020

Note

The above pattern can also be confirmed by Elliot wave and Rising Wedge. The price is bound to rise in the short run as discussed above confirmed by elliot wave. Following, which do expect the Short position strategy confirmed by completion of Rising Wedge (bearish pattern).

Jan 14, 2021

Trade closed: target reached