1) Testing its ATH (All Time High) level.
2) Perfect 'v' formation @ important level
(which is very very bullish indication)
3) 78.6% fibonacci extension level on WEEKLY timeframe
coincides with ATH. As we know, breakout of 76.8% lvl of
fib extension considered as continuation of the mail trend.
4) Concern : forming DOJI from last two days.
5) Relief : Even ...
as maruti has already rallied enough ..and now struggling a bit to sustain at high levels ..i expect a good fall and retest lower levels ...lets wait and watch!
It has been observed on the daily chart that the price action strongly breaks above the triangle formation pattern with a long candlestick that did not have a lower wick, indicated full control of buyers on price action. Now, it shall further move up to all time highs.
T1- 1875
T2-1900
SL-1810
It has been observed that the price action powerfully breaks above triangle pattern formation while forming a strong big green candle stick with no wick at bottom, also indicative of a strong buyers control over price action. Now, it shall further move up to make new all time highs.
T1- 1875
T2-1900
SL-1810
It has been observed on the Weekly chart that the price action breaks above the strong resistance zone of 830-35, which now indicating a new all time high and also shall further move up.
The company has been working well with strong growth, which also eligible for investing.
Target1: 855
Target2: 865
SL1: 830
In weekly,
Price broke the overhead horizontal resistance, and sustaining above it, BB is quite bullish.
In monthly,
price is approaching towards ascending channel resistance. https://in.tradingview.com/x/e9d7SFhL/
sl - 1530, tgt - 2020
1. Stock is trading at All time high, breaks out multi year resistance.
2. Stocks with these kind of break out will generally double in few months.
3. Company had announced its Excellent Q1 numbers recently.
4. This stock is good long term bet.
Note: Please do your own analysis before taking your position. Happy investing.!
It is been observed on the daily chart that the price action forms a descending triangle shape pattern which is counted under a flag pattern due to it size. It is also been observed that the price action is breaking out from 83.50 levels, which is ALL TIME HIGH LEVELS. Therefore, the price action indicates strong positive sentiments, where buyers have full ...
The price action breaks above its all time resistance level with a high volume, it signals a bullishness in the price action. I would suggest to wait for the correction in order to buy this again. Good opportunity to invest in this after a correction to previous resistance level.
