Maruti Suzuki trend strength is coming to an end, it is on the edge now 5794.60 and tomorrow if open below this level will go in trend reversal or if open up it may further go upward and can touch 6100.00, trader should cautious at this level wait for to break or upside movement.
Maruti Suzuki trend strength is coming to an end, it is on the edge now 5794.60 and tomorrow if open below this level will go in trend reversal or if open up it may further go upward and can touch 6100.00, trader should cautious at this level wait for to break or upside movement.
Maruti Suzuki trend strength is coming to an end, it is on the edge now 5794.60 and tomorrow if open below this level will go in trend reversal or if open up it may further go upward and can touch 6100.00, trader should cautious at this level wait for to break or upside movement.
It is been observed that the price action breaks out from the consolidation between 5765-5635 levels on hourly chart and now it is heading towards the previous Gap Up to fill the gap.
Target: 5500
Stoploss: 5700
Maruti has been moving in an upward channel. Hit the higher end and is not being able to sustain at 5620 levels.
RSI is overbought.
If we see reversal from these levels, writing 5600 calls (October expiry) is a good trade. Time correction will also help the position.
Today, it was totally a buyers show as it was in Bajaj Auto (attested below). Buyers actively took the prices up and above from previous resistance level of 5015 and now it shall move further up and reach to 5200 levels before the profit booking takes place. It is a good time to enter with stoploss at 4920.
Today's Price Movement breaks through the big rectangular consolidation. The consolidation is been continuing for a while but now it seems like the price action is changing gears, it shall move down further to the levels of 4750.
Target: 4750
Stoploss: 4930
