MARUTI BIG TIME BREAKOUT + RETESTMaruti has given a long awaited breakout after 6 months and with a strong bullish candle failing which have been a possible double top formation.
9 ema is acting as current support
Successful retest done
RSI in bullish zone
MACD above signal line.
BUY ABOVE - 8600
Targets mentioned in the chart above
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MARUTI trade ideas
Elliott Wave Analysis : Maruti Suzuki weekly TimeFrameAfter Double Zigzag, new Impulse Phrase has started and 4th wave of Primary degree is forming,
as we all know that corrective 4th is the accelerator of 5th wave . so , if we will find the ending point of wave 4 we can ride on the 5th impulse.
Competition of Fifth wave will also provide us the ending point of 1st wave higher degree.
Maruti looks Positive.The Vital Resistance Level of Rs 8355 has been Broken in Maruti which makes this level a chance to enter Long with a target of 9498.
The time Period is One month.
RSI 13 is also gaining momentum and may cross into sweet 60 Level.
Earnings are also expected and One can expect a positive surprise in the Results.
Stoploss can be kept at 8300.
Maruti - Breaking out of a rangeMaruti had its highest close in almost 2.5 years..Breaking out of a consolidation in Jan 2022. If the breakout can hold the stock could move back towards 10,000.
With the semiconductor problems easing the auto sector could now start looking good again..
Long above 8820. Stoploss below 8200.
These are investment kind of stocks so SL's wil be much lower.
#MARUTI - Long term View#MARUTI
CMP - 8550
Can be looked in the range of 8223-8369
Above 8980
Next Levels can be expected 9440,9870 & 10790
View will be negated below 6986
Disclaimer : This idea is only for education purpose, Pls consult your financial advisor
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Head & Shoulder Pattern Formation in MarutiMaruti has been in a Complex Head and Shoulder pattern formation since September 2018. Looks like the stock is coming out of this pattern as it moves above 8500 with high volumes.
The stock had reported its Quarterly Earnings on 25th Jan and the stock has moved +4.2% since then.
If the stock stays above 8500, it can move towards its all-time high of 10K
Maruti: Best to dip Buy..
CMP:8550.95
Upcoming Target: 8212, 9182.
After Completing W Pattern Target Now Maruti Go for Elliot Wave theory.
In Maruti can see the stock price starting to fall after the completion of the 1st Elliot wave . The downside target is 8203. The correction wave may take the 12345 pattern.
You also go for Long term buy on dip strategy with five time investment.
Feel free to share your feedback and queries.
If you want to know about your stock please mention in comment.
Maruti gave a breakout with volumeNSE:MARUTI gave a nice breakout in previous session with great volumes, the breakout appears on same zone which was a resistance zone for multiple times and now it will be approaching a previous swing high that is also an all-time high, my target is Maruti will reach 10000 for the first time, mark a stop loss of 7850/-
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#marutisuzuki bank potential weekly inverted H&S breakout#marutisuzuki bank potential weekly inverted H&S breakout
This auto sector major potentially is breaking out of a inverted head and shoulder patter on weekly charts
The sector is one among strongest in the market as of now.
The momentum also is bullish on all timeframes alone with and ADX trend indication of rising strength.
The current multi year resistance from where price has broken out of had given stiff block on price several times
And therefore probability is more of sustaining it with a green close above it.
9988 would be next resistance zone and if the pattern works out well targets could be lot more than that.
Given the volatile market conditions keep tight stop loss below the neck line for swing or positional trades.