Maruti Chart Analysis !!📈 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 Decision On This Analysis.
Marutisuzuki
YR 2022 Idea #49: Long on MARUTI This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. Our objective to help anyone who wants to learn technical analysis using charts by demonstrating my real trade entries. You can post your queries in comment section here and we will try to answer them asap.
Maruti preparing for a nice moment.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.
Elliott Wave Analysis : Maruti Suzuki weekly TimeFrameAfter Double Zigzag, new Impulse Phrase has started and 4th wave of Primary degree is forming,
as we all know that corrective 4th is the accelerator of 5th wave . so , if we will find the ending point of wave 4 we can ride on the 5th impulse.
Competition of Fifth wave will also provide us the ending point of 1st wave higher degree.
Head & Shoulder Pattern Formation in MarutiMaruti 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: Best to dip Buy..
CMP:8550.95
Upcoming Target: 8212, 9182.
After Completing W Pattern Target Now Maruti Go for Elliot Wave theory.
In Maruti can see the stock price starting to fall after the completion of the 1st Elliot wave . The downside target is 8203. The correction wave may take the 12345 pattern.
You also go for Long term buy on dip strategy with five time investment.
Feel free to share your feedback and queries.
If you want to know about your stock please mention in comment.
Maruti gave a breakout with volumeNSE:MARUTI gave a nice breakout in previous session with great volumes, the breakout appears on same zone which was a resistance zone for multiple times and now it will be approaching a previous swing high that is also an all-time high, my target is Maruti will reach 10000 for the first time, mark a stop loss of 7850/-
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#marutisuzuki bank potential weekly inverted H&S breakout#marutisuzuki bank potential weekly inverted H&S breakout
This auto sector major potentially is breaking out of a inverted head and shoulder patter on weekly charts
The sector is one among strongest in the market as of now.
The momentum also is bullish on all timeframes alone with and ADX trend indication of rising strength.
The current multi year resistance from where price has broken out of had given stiff block on price several times
And therefore probability is more of sustaining it with a green close above it.
9988 would be next resistance zone and if the pattern works out well targets could be lot more than that.
Given the volatile market conditions keep tight stop loss below the neck line for swing or positional trades.
Maruti LongMaruti 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.
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NSE:MARUTI