Maruti given a flag pattern BO in last trading session with good volume. If sustained over 7130, Buy can be initiated and there are several hurdles like marked in the chart. Sl to be maintained below 6970.
Chart is self explanatory If Gap up Long entry If Gap down short entry #Head_and_shoulder
Stock first Chance the trend with heavy volume and then price has consolidate in a horizontal parallel channel. A horizontal channel is formed by two parallel horizontal lines that frame the evolution of the price. The upper line is called the "resistance line". The lower line is called the "support line". A horizontal channel is confirmed/valid if it has good...
short term target 6000, see that chart for more details
It has made a bullish AB=CD in daily time frame. It could reverse from here for 6850 / 7100 provided it does not go below 6625
Maruti in the very short term looks weak within a sideways corrective which suggests it could test 6800-6700 which tallies with a bullish Harmonic pattern as well as Ichimoku Kumo support provided it does not go above 7350. Near the suggested level of support it could resume a medium term uptrend.
watch your trade...bullish above the trend line
A decisive break below 6900 can easily take it down to 6500. S&R levels mentioned in chart.