Maruti - Long Swing Trade

Oct 23, 2019

Maruti completed a bull phase with supply seen in the 8450 - 10000 rectangle zone.

The scrip appears to be breaking out of a year long downward channel move on the back of rising demand as seen in the volume with reasonable accumulation.

Stop Loss: 6650
Target: 8450

Oct 27, 2019

Note

Trend appears to be intact.

Oct 29, 2019

Note

Stop Loss should now be trailed up to 7000.

Nov 1, 2019

Note

Bullish trend appears to be intact. Stock stayed strong after the announcement of the monthly sales figures.

Nov 25, 2019

Note

Selling pressure was followed by a short term support at breakout levels. One could imply that the buyers at those levels are ready to defend their long positions.