MARUTI - Price Action Analysis Weekly TF
The bull run of 
MARUTI has reached at the same levels where it was rejected earlier in Jan 2018.
The same we can get using bearish harmonic shark pattern with level of .887 at the price of 9400 in weekly TF.
So we can calculate Supply zone in-between the range of 9400- 9700.
There will be higher chance of correction from here.
BUY : Buying opportunity only comes either price will give breakout above 9700 and sustain with good momentum and volume. then next target will be 10500 which derived from the harmonic level of 1.131
SELL : Short opportunity only comes if price will start making LH-LL in daily TF with rejection confirmation candle that leads price again with level of 7700-8000 .
So who carried from the long time can start to book their profit and new buyer and seller can wait for the either side of the confirmation.
My view still at the bearish side because Auto sector has already given a good rally and now compare to negative global cues and all, some correction may happen over here.
so do accordingly.
If you have other opinion, please share your comment below and like & follow for upcoming great analysis.
Safe Trading ;)
MARUTI has reached at the same levels where it was rejected earlier in Jan 2018.The same we can get using bearish harmonic shark pattern with level of .887 at the price of 9400 in weekly TF.
So we can calculate Supply zone in-between the range of 9400- 9700.
There will be higher chance of correction from here.
BUY : Buying opportunity only comes either price will give breakout above 9700 and sustain with good momentum and volume. then next target will be 10500 which derived from the harmonic level of 1.131
SELL : Short opportunity only comes if price will start making LH-LL in daily TF with rejection confirmation candle that leads price again with level of 7700-8000 .
So who carried from the long time can start to book their profit and new buyer and seller can wait for the either side of the confirmation.
My view still at the bearish side because Auto sector has already given a good rally and now compare to negative global cues and all, some correction may happen over here.
so do accordingly.
If you have other opinion, please share your comment below and like & follow for upcoming great analysis.
Safe Trading ;)
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