Buy above 8000 for the targets of 8170, 8280, and more until 7835 is saved on the downside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
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...
MARUTI simply trending ABOVE ^
Trend line support is around 5750,
Resistance around 6000.
If stays above 6000 we may see level of 6245 in the near term.
Updated :20 July 2020 8.00am.
Disclaimer: Only for learning purpose.
Hi Traders,
1. On 14th June 2020, I mentioned in that post is quoting for your consideration " I circled the candlestick pattern called piercing. The psychology behind it is very much clear that bulls found that price lucrative as on support zone .so they came and bought aggressively closing price days high. Novice traders seeing this pattern...
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 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
Cup & Handle pattern observed in Maruti. Pattern is confirmed as price has broken above 6080. Pattern suggests a target of 6260.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable...
Inverted Head & Shoulder pattern observed in Maruti. Pattern is confirmed as price has broken above 6045. Pattern suggests a target of 6190.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and...
POSITIVE ****
TREND : DOWN
PRICE ACTION : LONG ENTRY : after price breaks above BLACK trend line ( tp : below supply zone)
NEGATIVE CASE :
PRICE WILL TAKE SUPPORT 2 AFTER BREAKING FIRST DEMAND ZONE
MARUTI Trades using Blue Sky Plus Indicator. Message or Comment to get a free trial of the indicator.https://www.tradingview.com/script/lqS4a5pU-Blue-Sky-Plus-Day-Positional-No-Repaint-with-Alerts/
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...
