NSE:MARUTI Maruti has formed triangle pattern and it has broken out upwards. Looking good for a swing trade. I have mentioned the entry, SL and targets in the chart. Trade according to your own setup and risk. Comment your views and doubts. Thank you... Happy trading...
During Diwali season we can expect auto stocks to pick momentum and safer than tata motors will be Maruti!
follow the 40-30-30 principle while accumulating it, as it's an expensive stock and we don't want to get trapped if the price goes against our view!
After the issue of semiconductor issue in auto sector , auto stocks have given a good correction. But chart indicates that the stocks are bottoming out. As always technical comes first then the news.
Buy-Above 6950(Add Till 6740)
T-7335 7655 8000+
Bearish Head & Shoulder indicating downward trend.
There was already a bearish triangle pattern i found last week and now this bearish head and shoulder pattern is confirming down trend.
One can short Maruti for a target of ₹ 5800 with a stop loss of 6800
Automobile sector is already suffering from semiconductor chip shortage in general. The latest 200 Cr Fine by Competition Commission of India on Maruti Suzuki definitely doesnt help the company. I have used Fibonacci Pivot Points to set a target - Take 70% at S2 and Rest 30% at S1, The Stop Loss has been set at the recent high candle.
This is not...
Go for long position on NSE:MARUTI Because
1. Positive Divergence in RSI.
2. Breakout after 0.5 level of Fibonacci retracement.
Daily target at least 50-60%. Set your stop loss at a level of 0.5 Fibonacci retracements i.e; 7364.5.
Maruti P/E 49.36
Sectoral Index P/E 221.12
Maruti Suzuki India Ltd is planning to increase production by 200 cars per day from near month, two people aware of the company’s plans said, as the country’s largest carmaker bets that demand for personal mobility will continue amid the resurgence of the pandemic.
The increase in output will take the daily production...
Long can be executed as the price and RSI breaks the trend line in upside for minimum 80 points target. This analysis will be valid till May or June. Exit once the stoploss is triggered.
Kindly share your valuable feedback.
Disclaimer : please do your own research or consult your advisor before taking any trade. This view is for educational purposes only.
Maruti's Chart analysis.
Key Levels mentioned in the chart.
Expected breakout levels mentioned.
Keep Supporting guys and guide me if there's something wrong with the analysis. Keep Learning.
"Do your own analysis before taking trade".
Wait for the price to sustain above the trendline and marked zone.
Go Short if the price gets rejected from the Grey zone.
Use appropriate risk-reward ratio.
Always use a Stop loss.
P.S : This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.
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...