Maruti spot cmp 7200
Time frame :- 240 mins
.
Study :- Elliot wave
Counter have given reversal from maturity levels of corrective wave 4, now if wave 5 unfolds can give good upmove,,,
Rsi have given breakout from falling trend line
Macd on verge to give positive crossover,,
Hidden bullish divergence seen in both indicators where price making higher low and...
As can be seen an inverted H&S pattern was forming on the daily charts and a BO has happened...
Now many analysts here will show you a view of this pattern, maybe RSI/MACD numbers, and tell you how there is a huge upside to buying this stock right now..how you can earn 20% profits in a few months.. I am not saying they are wrong but I am not as confident as them...
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✺ LOGIC ✺
✣A pattern above Monthly support = Good to go Stock for long but What about entry?
✣Pink Trendlines: Symmetrical Triangel supportive and resistive equally
✣Blue trendline: Use to be an Amazing Support now a resistance ( Strong one )
✣Yellow trendlines: Parallel channel
✺Plan
✣Let...
Hello traders,
MARUTI Suzuki is getting ready for the 7000 rocket launch!
Just in a matter of 3 to 4 trading weeks.
Positive news over Maruti in the auto industry gives a better push to reach the expected level (7300)
Equity buyers can buy at the current level at wait for another 2 weeks or beautiful results!
For F&O is a new month for you guys!
So,...
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.
Hi Folks,
Maruti has completed it's 1st and 2nd of the larger degree and also seemingly the 1st of one smaller degree (the "ONE-TWO, one-two" phenomena) of the main 3rd.
The 2nd of one smaller degree seems to be brewing now.
When we zoom into the section of one smaller degree on the daily charts (This daily chart is in the comment section), wave A of the 2nd...
Hi Folks,
This is a continuation of the previous analysis of Maruti. Please read the comments section of the first chart to get complete details.
NOTE : Please DO NOT read this chart in isolation.
The stock has formed double top pattern and near the trend line, It may travel towards 7000 if sustains below today's low.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Closing above 8200 will lead to TP of 8600 in somedays or weeks.
Pattern invalid below 7716 daily closing basis
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Disclaimer: Only for educational & learning purpose
Date: 28 Dec 2020
Maruti Suzuki (CMP: 7,483)
Chart Time Frame: Weekly Chart
a) Maruti has formed an Inverse Head and Shoulder pattern on a weekly basis.
b) Stock price is sustaining above all its 'Weekly Exponential Moving Averages' - 10 WMA, 20 WMA, 50 WMA & 200 WMA.
c) The average Volume has increased more than double since the formation of Inverse H&A...
ALL THE LEVELS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
STOCK HAS EARLIER TAKEN SUPPORT FROM 50 DAILY EMA BUT IT WAS NOT ABLE TO MAKE HIGHER HIGH
The indicator used:
1) Daily Lines plots Daily 20 & 50 EMA on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
If you like the analysis, do leave a like and follow for more...
We have checked three things while taking this trade :
1. The volume should be low, no trend changing.
2. Double top pattern from major resistance.
3. We are aiming for 1.5% RR ratio which is good but it can be a hold it it breaks lower support (low chance).
Action Plan : Short at the current price and sit back, trail the stop loss once it reached the W pattern...
