Entire auto sector is seeing an UPTICK. TAMO, even after having a negative news is still bullish for the day. Good pick, for a quick bounce (SHORT TERM) could be MARUTI. Sl is closing basis Trade setup is mentioned on chart, active after getting a Breakout closing.
Note: This is for educational purpose only. Please do not trade in F&O based on this analysis. There seems to be a wedge pattern breakout in Maruti. Similar breakout is seen in RSI as well. RSI nearing neutral - bullish zone of 50. SL: 6250₹
IF LOW OF 6482 DOESN'T BREAK IN NEXT SESSIONS THEN BUY ABOVE 6581 FOR TARGET OF 6921. YOU CAN TRAIL SL/TARGET AS PER PERSONAL RISK MANAGEMENT.
Bullish View Falling Wedge Pattern in Maruti
Maruti has been in a range, making moves on both sides. But, 6400-6500 remains strong support for Maruti. A breakdown on the downside could trigger a selloff. Conversly, if taking support on 6420-6400 , we can witness a small upside in Maruti. Wait for a volume confirmation to achieve a strong target of 600+ points.
Maruti can take a final dip till the yellow support line and give a reversal. Will monitor price action for entry with SL and target as mentioned.
At CMP 6530 Target - TG 1 - 7150 Stop Loss - 6420 After making Double bottom pattern it can go long This for educational purpose only, do not make any position based on this call.
MARUTI LOOKS A NEAT BUY NEAR 6500 - 6472 WITH STOP LOSS BELOW 6271 FOR TGT 1 : 6887 TGT 2 : 7142 TGT 3 :7372. Try to book on a risk reward of 1:2 and don't wait for the exact targets as market is very uncertain. This post is for educational purpose only. Disclaimer post: We are not sebi registered analyst, plz do your own analysis before investing. we are not...
Expecting Positive breakout upside tomorrow, it should close above of Redline Resistance. All Levels like TG1,2,3 and SL mentioned in chart.
Maruti: Long term investment to reach the full target levels. (Wait period: 3 months to 24 months approx.) Suitable for: Investors with patience. It is trading in very attractive price. Considering its future growth in e-vehicle sector, the current price is good. The company is well renowned and fundamentally strong and trusted company by Indians. It may g down...
GOOD 2 DAY CONSOLIDATION BREAK OUT CMP/ENTRY 6660 TARGET 6900
Levels mentioned in the chart Itself... Trend will get invalidated on closing above 7200(approximately) ~This analysis is only for educational purpose~
Support zone has been tested multiple times from October'2020. Can give very good returns if breaks the support - Head and shoulder breakdown Intraday - Enter on support break and target 6670 Swing - Enter if daily candle breaks 6700 for targets 6580, 6500 and 6300 P.S. If stock bounces from support and breaks 6900 on daily candle then minimum target 7100/7150
Price forming falling wedge pattern at the resistance and much needed pressure was already in, a spark of buying pressure will make the price to fly high to reach 8500 this time.
200EMA below price is trading so it's an indication of Bearish trend confirmation. 6751 is 1st Key SUPPORT 1 if Breaks this Level, and SUPPORT 2 level 6236 is 1st target.