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joyesh

Maruti - Long Swing Trade

Long
MARUTI SUZUKI IND (NSE:MARUTI)  
joyesh Updated   
NSE:MARUTI   MARUTI SUZUKI IND
Trend Analysis Chart Patterns Technical Indicators MARUTI nse nseindia swingtrade breakout Bullish Patterns LONG medium-term
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trendanalysis chartpattern indicator maruti nse nseindia swingtrade breakout bullish long medium-term
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
Comment:
Trend appears to be intact.
Comment:
Stop Loss should now be trailed up to 7000.
Comment:
Bullish trend appears to be intact. Stock stayed strong after the announcement of the monthly sales figures.
Comment:
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.
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