Along with few other autos, maruti has lagged but it is showing signs of a break-out. Trendline is very robust but a clear picture is yet to emerge. views are my own, trade if any should be taken only on own assessment.
MARUTI SUZUKI: The stock was holding support levels for last few sessions, in today’s move it broke down from an important pivot and negated the bullish view. Now the stock is expected to remain sideways to down for a couple of weeks. The RSI is close to 40, which may result into some bounce, till 7000 levels. This level will now serve as a resistance instead of a...
PAIR TRADE IN MARUTI-VS-BAJAJ AUTO
HOLDING PERIOD:-2 TO 10 TRADING DAYS
ALL TRADES IN DEC FUT AND CASH FOR MATCHING VALUES
TOTAL VALUE=16.16 LAC
TOTAL VALUE=16.30 LAC
"PAIR TRADES NEEDS TIME TO GENERATE INCOME"
"STAY TUNED FOR EXITS"
In the monthly, we see strong upmove towards the monthly level. Nothing so bearish.
Weekly is coming from the Monthly resistance. Also, we see a break in Trendline in the Weekly. Bias shifts towards weakness although there is a nice uptrend which may even continue further.
Key Levels for MARUTI are : t.me - JOIN TELEGRAM CHANNEL
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MARUTI SUZUKI IND: After a splendor rally from lows to 7830 levels the stock pulled back a little after taking hit at a resistance point. In the last session it created a narrow range candle & closed positive for the day. The RSI took support near the 40 levels and MACD is well above zero into bullish zone. Holding 7000 on closing basis will be positive for the...
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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