Maruti Suzuki - Double TopMaruti Suzuki has formed a double top in daily TF
Short when the reistance zone(around 6800) is retested and a bearish candle is formed
Stop Loss - 6900
Target - 6500
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MARUTI trade ideas
Maruti at resistance levelMaruti trading at very close to the next resistance level....may take entry for long position after 6854 level for Targets T1-7129, T2-7356, T3-7589, double bottom or W- pattern also confirming the strong Buy signals. Above targets are derived from Fibonacci retracement. This is only learning purpose, before trading please take advise of your financial advisor....
Maruti near long term supportMaruti has already retraced more than 38% from the top. Long term support zone at 6450-6400 which it held in two occasions in last few months. Short term support seen at 6250-6300 levels which can be treated as the stop-loss zone. RSI divergence is prominent in the stock.
Idea: Buy Maruti around 6400-6450 range with a a strict stop loss of 6250-6300 zone.
Maruti - Trendline ReversalLong can be executed as the price and RSI breaks the trend line in upside for minimum 80 points target. This analysis will be valid till May or June. Exit once the stoploss is triggered.
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Disclaimer : please do your own research or consult your advisor before taking any trade. This view is for educational purposes only.
#BULLISHENGULFINGPATTERN in MARUTISUZUthere is a formation of bullish engulfing pattern in Maruti Suzuki on the weekly time frame if auto sector gets some boom it will definitely gonna reverse from its support we need to continuously check the auto sector performance made vulnerable because of CORONA and keep an eye at MARUTI SUZUKI and if it shows some correction then 50MA gonna cross 200MA which would give Golden-CrossOver then it is must-have position stock for swing trade but for now, volumes are not satisfactory for having any long position lets wait for few more weeks