Stock seems to be breaking a long term trend line as drawn in the above chart which suggests more selling could come. But its also seems to be taking support at 784 levels so either wait for a retest of the above broken trend line to sell or a breakdown below 780 levels. Any breakdown below 780 levels with a strong close below that level may signal correction upto...
The move down from the 9930 level seems to be in Double Zig Zag formation with the current progression being in W.b of the second Zig Zag. If this is the count playing out then we should see a minimum 3 legged up move which can take Maruti to 9155-9230 (white resistance zone) . The count will become Invalid if Maruti moves below 8795 and hence the same can be...
Auto Stocks may be at a crucial level. Index has been creating a falling wedge pattern closely following the mentioned trend line. A weekly close below the red line may be bearish and targets upto 9920 levels. Similarly weekly closing above the falling trend line may signal uptrend till previous highs. Lot depends on news flow and earnings so lets see...
1. 100 SMA support 2. RSI positive divergence 3. Falling Wedge 4. Hammer pattern offering a small risk to high reward setup Sometime we jump the gun when opportunities knock & if the risk is very minimal!
ON FRIDAY I TOLD IF #MARUTI WILL CLOSE ABOVE 9220 THEN BUY IT, BUT IT NOT CLOSE ABOVE GIVEN PRICE AND A BEARISH TREND STARTED. NOW AT 9078
has broken out of a channel ,can long with sl below 9352
closed near support trendline
currently the structure in itself looks extremely strong , minir ups and downs neglecting in intraday ! the stock according to me is set for a one way rally of 4/5 % + in coming days !
Maruti Can be long on intraday Basis with SL 1% below yesterday's low.
bullish on the stock , for a considerable upside lets see !
Support level, resistance level and possible target for maruti suzuki for short term.
MARUTI hanging on for its life. It has made a solid comeback from the triangle breakout, but I would wait some more time before going long.
Maruti - LONG - Descending Triangle. Descending triangle pattern seen on Maurti on daily charts and RSI also confirming the possible upside move.
the above mentioned levels will act as a TWIST in tale .. the above level are not spontaneous but have a well informed analysis ,. ..
Long on Maruti @8837 (May futures price). Tight SL with good risk/reward ratio MFI and OBV at very low levels Ichimoku Chikou Span will hopefully emerge from congestion Much of the market is overbought but Maruti has fallen significantly