As I mentioned I'm Expecting a small or minor retracement towards 6330- 6290 level, I'll be a buyer on maruti and looking for the target of 6730 TG1 and 7000 level TG2. With a stop of 6200.
Currently chart patterns are looks good and nice flag pattern formation I have seen on the charts.
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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
After a decent pullback from its recent lows 5446.05 now at resistance at around 6300 level.
This makes an ideal short from today's closing price 6208.55 for a target of 5720 & 5450.
View negated above 6350 (Stoploss)
Maruti is in a daily descending channel, which has completed 3 touches indicating a reversal. There is a small falling wedge at the 3rd touch.
Entry after 5546 is broken.
Traders can have a stoploss of 5441
Target 1 - 5650
Target 2 - 5710
This content is for information and educational purposes only and should not be considered as a piece of investment advice...
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...
Maruti Suzuki has formed a Pennant with a nice and long pole.
The pennant has unusually taken 7-8 months to form and has now appeared to be broken.
Its certainly working looking for a good entry point and then join this ‘SHORT’ ride!
We find Maruti Suzuki going bear and we expect it to fall further.
See the Head and shourlders pattern on the chart.
What is heads and shoulders ?
It is a pattern where three trianges are formed, the mid one is called the head, the other two sides are called shoulders. The mid head should be heighest and the shoulders should be nearly equal in a horizontal H &...
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...
Maruti breaks down after a short period of consolidation. Apparently, price action is showing a Bear Flag pattern, which is confirmed with a close below 5990. Round number of 6000 too had been breached. Target of the pattern comes in at 5415. With all the weakness surrounding the Auto sector, target seems to be well within reach. Even higher time frame analysis...
Descending Triangle pattern spotted in Maruti. Depth of pattern looks to originate from 7950 towards the base of 6500, forming a considerable 1450 points. Pattern could be considered valid once the price closes below 6500. Further, if the pattern is confirmed technical target would be at 5050 based on the pattern. That accounts for a fall of 22% from 6500. Hence...