MARUTI trade ideas
MARUTI - WEEKLY BREAKOUT - EXCITING OPPORTUNITY Weekly breakout in MARUTI with good volumes. The stock has been consolidating for 16 weeks after the breakout and taking support on the breakout trendline. It is a good zone to buy as the Stoploss is small while the upside looks very good.
The stock's Fundamentals look very good as well. Overall it will be a good bet.
this car should speed up from here!!Fib Analysis- The stock has taken support at 38.2% from a higher swing. This is an indication of strength. The stock is trading in a broad range of 10200 to 10700.
RSI - support in the bull zone is again telling the trend is up and strong,
MA- It took support above the longest MA of the three. This is very positive.
Volume- it made a low on a low volume is again positive.
Candlestick- the key reversal at support is a sign of reversal.
R1 10700
Maruti - Next Move?The stock price has been moving in a parallel channel in recent weeks. Can expect it to come to the lower side now. Also, a retest of the breakout at 10k levels seems due.
Other indicative actions are mentioned on the charts.
Risk-reward is good according to the setup.
Only for learning and understanding purposes, not a it of trading advice in any form.
All the best.
MARUTI Hello and welcome to this analysis
Maruti has been a rank outperformer now for 2 decades. Stock has currently reacted to a resistance suggesting probability of some more pullback.
Overall stock has tremendous potential for further upside over medium to long term. Investors could look at an opportunity to add via SIP in the broader range 9500-11000 while traders can look for swing trading opportunities with resistance near 10400-500 and support at 9800-9600.
Happy Investing
Mastering the Symmetrical Triangle chart patternHello Friends,
Here we had shared Educational purpose post to understand & to master the Symmetrical Triangle chart pattern with real example on chart of the stock MARUTI.
Symmetrical Triangle Chart Pattern
A symmetrical triangle is a common chart pattern used by traders and investors to predict where the price of a stock or asset might go next.
What It Looks Like
Imagine two lines on a chart. One line is sloping up, and the other is sloping down. These lines meet at a point at the top of the chart. It looks like a triangle, where the lines squeeze together.
What It Means
Symmetrical triangles show that traders are unsure about where the price will go. It's like a coiled spring, ready to bounce in one direction.
Why It's Important
When the price breaks out of the triangle, either going up or down, it can be a signal of a big move. If it goes up, it's considered bullish (good for buyers). If it goes down, it's bearish (not so good for buyers).
Trading Tips
Wait for a clear breakout before making a trade. Don't rush.
Watch the volume (how many shares are traded). A big volume increase during the breakout is a good sign.
Be cautious of false breakouts – sometimes the price goes out of the triangle but then comes back in.
If you already own the stock, hold onto it until you see which way the breakout goes.
If you don't own the stock, consider buying after a reliable breakout in the direction of the major trend.
In simple terms, a symmetrical triangle is like a pause in the market where everyone is waiting to see which way it will go next. Traders use it to make decisions about buying or selling stocks or assets.
Setting Stop-Loss and Targets
Stop-Loss
A stop-loss is a predetermined price level at which you decide to sell your position to limit potential losses. When trading a symmetrical triangle pattern:
Place your stop-loss just below the lower trendline if you're buying (bullish breakout).
Place your stop-loss just above the upper trendline if you're selling short (bearish breakout).
The stop-loss helps protect your capital if the breakout goes against your trade.
Price Targets
Price targets help you determine where the price may move after the breakout. You can calculate potential price targets using the triangle's height:
Measure the height of the triangle (the vertical distance from the lowest low to the highest high within the triangle).
After a bullish breakout, add the height to the breakout point for an upside target.
After a bearish breakout, subtract the height from the breakout point for a downside target.
These targets can help you set realistic profit objectives. Keep in mind that they are not guarantees, but rather potential price levels where the asset might move.
Remember that trading involves Risk, and it's important to use risk management tools like stop-loss orders to protect your investments. Additionally, price targets provide guidance but don't guarantee specific outcomes, so it's essential to monitor the market's actual performance after a breakout and adjust your strategy as needed.
I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.