Maruti 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 near all time high and resistance
find attached chart we might go for handle invalid closing above ATH
Weekly RSI Negative divergence
if you are holding positions be cautious
2 days continuous selling from higher levels
This is also a converging triangle formed with one flat horizontal line on the top & an inclined line meeting at a common point as illustrated in the chart.
The flat horizontal line act as a resistance for the prices & the on the inclined line the prices take support. It’s not necessary that the ascending triangle formation takes place only in the bull market,...
Buy above 8739
in option Buy 8700 CE when it crosses above 8739.
SL-8685 , Target1-8814, Target2 -8891
Short Below 8664, in option BUY 8700 PE
when it crosses down below 8664. SL-8729 Target1-8612 Target2 -8541
Maruti on the weekly time frame has formed a gravestone doji and respected the trendline that it has been following from April 2019.
The stock is trading in the parallel channel and there is a resistance area formed by the previous high.
In the last 2 months, the stock has gained around 15% and the double trend line rejection can be a signal of shorting...
📈 Maruti 📉
My Findings :-
1. Breakout from a Resistance Zone.
2. Double Bottom Formation.
3. Higher High and Higher Low formation.
Bias- Long
Target- 8210, 8697 and 8952
SL- 7350
RR- 1: 2
All Important Supports and Resistances are drawn in chart.
All levels are of Spot and on closing basis.
Disclaimer : Consult Your Financial Advisor Before Taking Any...
Inverted Head & Shoulder Breakout
Buy Maruti Only If Price Come To 7350-7400
SL - 7099 (DCB)
Or If Give Day Close Above 7700
SL - 7430 (DCB)
Target - 8400
Maruti preparing for a blast as its 20 and 200 ema is narrowing.
On 60 minute time frame, the stock looks bullish as it has closed above its 200 ema.
Support :- 7400, 7250,7030
Resistance :- 7715, 7880-7900
Wait for the price action for confirmation and let the price sustain above/below the levels.
Keep Eye on Maruti…it can be a another good opportunity to make money with Upside moves.
There are both direction levels and Targets are mentioned on the chart. Short or Long trade depends on the Reversal point.
Maruti is coming towards its strong support zone 6950 - 6800 and looking good to buy for the upper marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Maruti Suzuki India Ltd - 25.02.2022
The stock is trading @ 8356 levels
There is a SPINNING TOP in Weekly Charts
RSI is above 60 in Weekly Charts
The prices are below EMA
Let the prices go above 8484
Watch out for the price actions
Maruti has given a long awaited breakout after 6 months and with a strong bullish candle failing which have been a possible double top formation.
9 ema is acting as current support
Successful retest done
RSI in bullish zone
MACD above signal line.
BUY ABOVE - 8600
Targets mentioned in the chart above
Please LIKE, COMMENT and SHARE to motivate and support me....
Maruti has been in a Complex Head and Shoulder pattern formation since September 2018. Looks like the stock is coming out of this pattern as it moves above 8500 with high volumes.
The stock had reported its Quarterly Earnings on 25th Jan and the stock has moved +4.2% since then.
If the stock stays above 8500, it can move towards its all-time high of 10K
Maruti has made a good high with volume and price breakout. Now it may move to 10,000 as this was it's previous resistance. I think it may come again to same level and then it may brake previous high.
Time frame I can assume is of 6 months. I have kept it from already 7400 near levels as suggested by my indicator.
Follow my Youtube channel as well.
NSE:MARUTI
