TradingView
segan_the_learner
May 14, 2021 10:39 AM

Maruti Suzuki - Double Top Short

NSE:MARUTI1D
MARUTI SUZUKI INDNSE

Description

⋅
Maruti Suzuki has formed a double top in daily TF
Short when the reistance zone(around 6800) is retested and a bearish candle is formed

Stop Loss - 6900
Target - 6500

To motivate me, give a like and show your support. Thank you!
Please stay safe. Happy Trading!

Regards,
Segan

Comment

⋅
Please note that this is a short term idea(probably for a few days). Maruti is in good levels for long term investment.

Comment

⋅
Book profit around 6730 if anyone has entered on intraday basis
Double Top or BottommarutisuzukiDouble Top
Comments
Paritala_Vijay
⋅
Usually Doube top sud be find out in the uptrend ..not in the downtrend...
segan_the_learner
⋅
@Paritalav, Hi! Thanks for your insights. I agree that double top has a higher accuracy when it formed during a strong uptrend. But, there is no hard written rule that double tops should form only during an uptrend. It all depends on how you interpret the charts.
segan_the_learner
⋅
@Paritalav, Also kindly note that I have mentioned in the description to short only when the resistance is retested and then a strong supply candle is formed. Thereby, increasing the probability of the trade being bearish.
Paritala_Vijay
⋅
@segan_the_learner, thank you ...I am anticipating uptrend as per my analysis ..let's see..😄😄😀😀😃😃
segan_the_learner
⋅
@Paritalav, That's great! It would be great if you could share your analysis.
tapusonu3293
⋅
@Paritalav yes i am also on Long Side
segan_the_learner
⋅
@tapusonu3293, Hi! It would be great if you could share your analysis.
More