MARUTI
MARUTI IMPORTANT GANN LEVELS AND FIBONNACI LEVELSMaruti Given a Good Breakout in Last Session. Gann Fann and Fibonacci levels are drawn on the Chart. Also Mind the rectangle given expected a halt zone or can say accumulation/distribution zone for next move in Maruti. Price is already above Fibo 50% Important level so we are bullish on it. Will Enter any trade on breaking my levels on either side.
EDUCATIONAL
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Maruti hourlyNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
Keep an eye ladies and gentlemen. Cheers and Happy Trading
MARUTI - Watch above 8300After a recent fall from 9870 to 8082 levels - Maruti is showing a bounce from the support line.
If sustain the momentum - we should see 8474 and then the next 8722 levels in short term.
Currently - we see a crossing 8300 - and based on AB=CD harmonic pattern - if the market trend supports - we should see the breakout of the short-term trendline.
This will give us 8300 JAN CE trade opportunities.
Can think of long-term only above the trendline.
Add to watchlist
Maruti possible bottom formed!!Maruti is showing bounce from the trend line active from it's Apr 2020 low, it also has covered a "volume imbalance" zone on the daily chart. While on the hourly it has given a break out from the downward trend line. Any further bullish momentum could lead to a good rally in the stock, I will prefer waiting for sometime as the break on the hourly is still not convincing enough(momentum & volume wise).
What are volume imbalances?
Volume imbalances are formed when aggressive buyers or sellers enter the market, thereby increasing price with high momentum that orders don't get filled due to slippage. These imbalances always get filled sooner or later & are very good entry points. They are very similar to gaps in nature.
CNXAUTO NIFTYAUTO Bullish I am extremely bullish on CNXAuto/NIFTYAUTO!
It is forming a flag pattern
Making higher highs with correcting RSI
Current consolidation might last few more months
Target 16000
Currently correcting on 4M timeframe
Top constituents by weightage
Mahindra & Mahindra Ltd. 20.36
Maruti Suzuki India Ltd. 19.97
Tata Motors Ltd. 11.67
Eicher Motors Ltd. 8.47
Bajaj Auto Ltd. 7.42
Hero MotoCorp Ltd. 5.48
Tube Investments of India Ltd. 4.51
TVS Motor Company Ltd. 4.21
Ashok Leyland Ltd. 3.48
Bharat Forge Ltd. 3.37
Above stocks will do very well as they have a higher presence in the index
Also check out Gabriel India
MARUTIMARUTI:- formed rounding bottom pattern...
keep on radar. wait and watch lets break the resistance
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning