prices are contracting post the bounce back from trend line support break above 6000 will provide a move towards 6110/6130 levels above those levels stock will turn to positive trend
Short for the first target of 5841, and then 5680, with a stop of 6080
maruti is bullish as per weekly chart and will touch 7000 in the time frame of 3-6 months. SL is 5750
Maruti went up to 6230 on huge volumes and now came back to test the breakout levels around 5970. Classic swing trade opportunity. Go long with strict stop loss at 5875 or 50 points. Anything can happen though so trade with strict stop loss.
We can expect the following targets: T1: 5419 T2: 5264 SL: 5950
It is been observed on the hourly chart that the price action firstly breaks above the triangle formation pattern with a strong big green candle and then faced resistance pressure at 6215 levels. Now, it has also broken the resistance levels, indicating buyers domination over price action. Target1: 6250 Target 2: 6290 Stoploss: 6170
Maruti 2 Red candles.. with RSI giving confirmation signal.. target 5940.. SL 6220
The stock has shown strength by taking out the supply around 5710-5720. Expecting 5900. Buy on dips to 5690, with the same being the stop on 15 min basis.
Maruti Suzuki gearing up for breaking its previous high 5932 level in near term, traders may enter long with a target of 6100 in near term. SL can be 5650.
Continuing from the awesome prediction of nextgen sir ( see in related ideas ) ; maruti suzuki has again faced resistance at that level with full down candle. Short trade can be placed with the high of the candle + cushion as stoploss.
* Bearish Harmonic * Negative Divergence on RSI
Bearish Bat formation on Maruti on EOD and bearish sign for short term. Note : Please wait until the pattern get filled. Trade: Short below - 5785 Target 1 - 5650 Target 2 - 5560 Target 3 - 5465 Stop Loss - 5890 Reward Points - 320 Risk Points - 105 "Happy Trading"
After demonitisation maruti has recovered on charts. but the fundamental consumption problem persists. On charts as well- Maruti opened on gap downs two times last month. Now last of these gaps are filled at 5675 and the market is hitting horizontal resistance lines as well hitting upward trend channel resistance. It's nice time to mint some money from shorting...
6th Jan2017 - 15:20 Hrs Last price@5614 Maruti could be on reversal from tops@5658 -it took out the channel marginally but reversed back within the channel so going forward below 5590- Maruti could be in pressure or wait for a bounce back between 5635-5645 for taking sells with stops above 5658. Target Zone We could be open in 5300-5325-- Below 5300 for...