Maruti, after consolidation phase of wave 2, this stock has given breakout from resistance trendline along with good intensity of volume, with upper bbc in both weekly and daily time frames, wave structure suggests that wave 1 and 2 has been completed and now wave 3 has been started, as wave 3 unfolds price can show the bigger levels of all time high in this...
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. ...
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!
Note: This is for educational purpose only. Please do not trade in F&O based on this analysis.
There seems to be a wedge pattern breakout in Maruti. Similar breakout is seen in RSI as well. RSI nearing neutral - bullish zone of 50.
last week one of my condition was so helpful for aggressive traders that it saved for going short on this scrip . Let us understand it. "if blue zone is not taken out then price will move to red zone. where price can consolidate or momentum is strong then can breach it . but short after red zone can...
Channels are price ranges that a stock or other investment trades within over a period of time.
The chart above illustrates the key aspect of channels. They can reveal potentially important price levels, from a chart analysis perspective.
Chart users attribute these signals to the psychology of individual investors attaching significance to price points that are...
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...
Descending Triangle pattern spotted in Maruti. Depth of pattern looks to originate from 7950 towards the base of 6500, forming a considerable 1450 points. Pattern could be considered valid once the price closes below 6500. Further, if the pattern is confirmed technical target would be at 5050 based on the pattern. That accounts for a fall of 22% from 6500. Hence...