The stock of Maruti Suzuki has gone parabolic, as can be seen from trend lines slopes of which has been steepening with every move. Yesterday it has broken from it's trend line support plus momentum is also weakening as can be seen from Squeeze Momentum Oscillator.
]MARUTI : 6762.50. [/b Candle pattern: Possibility of ]EVENING DOJI STAR [/b (Bearish) Indicators: ADX, RSI, W%R & some other Indicators are OverBought. Volume: Much Below 20 day AVG. & -12.44% compare to Prev. day. WAVE Count: Today Already achieved 2.272 Fib. Retracement (WAVE - 5) GAP: Bullish GAP formed on 02 May 2017 (@ 6589.90 to @ 6618)...
Maruti has been taking support at 6600-25 Levels in the 15 minute chart. Also there is hammer retest. It is good buy around 6625 with SL 6595 and target of 6685. RR 1:2.
Maruti has been trading in a Descending Triangle forming lower highs and equal lows in the shorter time frame. It is also taking support at the gap. Enter on a breakout on the upside.
Price facing RESISTANCE at the current with the DARK CLOUDCOVER CANDLE , which is indicating that price will be go down somw time ....once again this is only for EDUCATIONAL PURPOSE , NOT SUGGESTED TO TRADE ON MY ANALYSIS ....
Head and shoulder pattern break out for 216-250 SL 180
Maruti suzuki had a good upward move today. A close above 6350 0n a closing basis might take the stock to 6490. This is just my view...you are free to comment.... what do you think ?
W.5 is going on in MARUTI EOD chart. look for short opportunities in it min tgt low of w.4
Ending diagonal - testing a private idea.
pl. check lnt earlier post MARUTI stock is trading inside upward raising channel touched lower end and now in pull back mode chances of the stock touching higher end is high
I am buying Maruti at 6231.00, TGT AND SL LATER
As we can see price taking support at the trend line , now it time to complete D wave ....
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stock is firmly on uptrend, break out might take this stock 6430/6450
bearish formation in maruti if closes below 5951 might drop towards 5600 levels sl 6100 rsi already started falling
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Primary view : A long term 5 wave completion --> Internals of the 5th are making a diagonal triangle pattern. Upper boundaries are from 6336 to 6425. Alternate view : 5th is sub-dividing with current in its 3rd of 5th. The next high above 6234 is a validation point to end the long term 5th and then set of a multi-year correction.
Harmonic Patterns occuring at Supply/Demand Zones are powerful. Maruti is right at the supply zone marked on the chart... plus a bearish Shark !