Buy above 8739
in option Buy 8700 CE when it crosses above 8739.
SL-8685 , Target1-8814, Target2 -8891
Short Below 8664, in option BUY 8700 PE
when it crosses down below 8664. SL-8729 Target1-8612 Target2 -8541
Maruti on the weekly time frame has formed a gravestone doji and respected the trendline that it has been following from April 2019.
The stock is trading in the parallel channel and there is a resistance area formed by the previous high.
In the last 2 months, the stock has gained around 15% and the double trend line rejection can be a signal of shorting...
📈 Maruti 📉
My Findings :-
1. Breakout from a Resistance Zone.
2. Double Bottom Formation.
3. Higher High and Higher Low formation.
Target- 8210, 8697 and 8952
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...
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.
Keep Eye on Maruti…it can be a another good opportunity to make money with Upside moves.
There are both direction levels and Targets are mentioned on the chart. Short or Long trade depends on the Reversal point.
Maruti is coming towards its strong support zone 6950 - 6800 and looking good to buy for the upper marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
InvestPro India Team
Maruti Suzuki India Ltd - 25.02.2022
The stock is trading @ 8356 levels
There is a SPINNING TOP in Weekly Charts
RSI is above 60 in Weekly Charts
The prices are below EMA
Let the prices go above 8484
Watch out for the price actions
Maruti Suzuki India Ltd - 07.01.2022
The stock is trading @ 7906 levels
The prices are above EMA
There is a Head & Shoulders Candle Formation in Monthly Chart with a neckline @ 7500 levels
There is a SPINNING TOP in daily chart
Stochastic is overbought in Daily Chart
RSI is overbought in Hourly Chart
Watch out for the price action
1) On 1day time frame,it has bounce from 200DMA and now trading below 50DMA.
50DMA is immediate resistance.
50DMA is placed at 7493.41. We can say that range of 7490-7500 will be immediate resistance zone.
Please refer below chart : 1day Time Frame.
2) Also on 1day time frame, it has made double bottom pattern.
I am posting this as one of the follower requested.
1) On 1 Day time frame, we can see that it is near its 100DMA and also critical supprot range 7165 - 7200.
There are chance that it will take support from this range. If it breaksdown and closes below then it will show weakness.
Please refer below chart : 1day Time Frame. ...