MARUTI (Maruti Suzuki India Ltd) BUY ABOVE 6900
MARUTI - probable setup for coming week for my own analysis purpose.
If hourly candle closes below 6570, short with target as shown in chart
1.Maruti has broken the important resistance of 6500 2.Retested the 6500 level after break 3.Bullish flag pattern is formed on 4 Hour chart 4.HH and HL pattern on daily chart 5.Price closed above 200 EMA on daily Chart 6. Risk Reward is 1:2 Buy at 6790-6750 Stoploss 6470 Target 7400
MARUTI (Maruti Suzuki India Ltd) BUY ABOVE 6885
As I mentioned I'm Expecting a small or minor retracement towards 6330- 6290 level, I'll be a buyer on maruti and looking for the target of 6730 TG1 and 7000 level TG2. With a stop of 6200. Currently chart patterns are looks good and nice flag pattern formation I have seen on the charts. Support us by hittin Like , & few suggestions on Comment, & Pulish the...
B point might be retested, if the retest is passed then can see 7000 levels
There is an important zone(marked white) which needs to be crossed for long term Bullish stance.
Price is near an important trendline, if 6200 is not sustained then can fall further
Maruti is resisting trendline. Some more downside cannot be ruled out. Thus, high risk traders can sell on rise upto 6200-6250 for short term targets of 5900, 5600 & 5450. A daily closing above 6470 will negate our view.
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The breakout is ready of the downward sloping line will happen on Monday and retrace to atleast 8000 levels, 50% retracement of the fall
Maruti Sell Below 6170 Stoploss 6205 Target 6088-6000 Resons For Trade- 1.Price near to 15 minute channel resistance 2. Price near daily resistance of 6200 3.Weak Candlstick pattern on 4 Hour Chart 4.Daily Trend is Down 5. Risk Reward is 1:2
Maruti Suzuki first target 4800, second 3400. Maruti has break long term major support sets it in free fall. 4800 should be in 2 months by Oct.
MARUTI (Maruti Suzuki India Ltd) BUY ABOVE 6200