But, in the case of Maruti, We are not taking a contradictory bet.
This our basic uptrend trade. Although the targets are drawn using price action. The first target is where the gap fill. The second target is the highest point of the range of the previous day’s sideways trend! We can also draw the targets based on our trailing stop loss method that we have...
I am looking this move is not over yet , as they changed the structure we have change our opinion , the sharpness of move indicates , You might see an side way
consolidation before heading for one more drop ,
buying levels for Maruti are in the range of 3800-3000 because I'm comparing the ongoing correction with 2008 crisis..that time it corrected almost 70% so starting from peak of 10000, this much correction is warranted. this whole theory will be proven wrong if there's GST cut in auto sector or demand improves exponentially and this probability is minuscule.