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...
Stock post breaking Triangle currently in consolidation at upper channel line drawn from 9929 level.
Red Marubozu on Fri 14th Aug 2020 tells start of down move.
Wave 2 is starting probably gonna consolidate and go down towards fib levels 0.382 (6385), 0.5 (6264).
All bounce towards 6600-6700-6800 short opportunity
STOP LOSS 6900
Potential to hit 6400 6300...
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.
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...
Hi traders/Investors ,
Last week I shared few scrips movements and now compare them with this week move . Whether this amateur and non professional analyst can make people earn money or not . This is the statement of only one of my respected trollers who himself is not able to publish a single idea on platform but very eager to...
WHAT IS HAPPENING BEHIND PRICE ACTION IN MARUTI
1. See this stock has made its bottom , the process of accumulation is going on where buyers want to buy at low price by trapping sellers with the impression of maruti making new low. This hope is created by smart money for sellers. Keeping price range bound. See rally in price that is for the attraction of...
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...