MARUTI trade ideas
Maruti Suzuki India-15 Min TimeframePeriod: 08/05/2007 to 18/08/2020
No. of Points: 19,871.
No. of Trades: 182.
% Profitable: 68.68 %.
Profit Factor: 3.348
Points per trades: 109.18
No. of lots: 2 (1 lot is partially booked after 150 points which can be customized and remaining 1 lot is in trade until the trend is reversed).
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Maruthi - ascending Triangle BreakoutAwaiting Triangular breakout
Buy open above Horizontal trend line.
Good body of candle should be above line.
Small tail, if possible.
Then it would be bullish.
Targets could be 7230 7400 7550 7750.
Then probably you can wait for 9000+
Target 7232 (Pivot)
All indicators except volume are Positive
Once break out happens be patient for a good 6 to 12 months for the upper target.
Volume below Avg
EMA 21 could be used as a Stop loss for the move.
Double top was made in 2018 June to August
MARUTI ::: SHORTDATE: 10 AUG 2020
INSTRUMENT: MARUTI
TIME FRAME: DAY
REASON FOR SELECTING STOCK?
1. ONE OF THE TO LOSERS IN NSE.
2. COMPLETED 5 WAVES IN DAY TIME FRAME.
PRICE ACTION:
CMP: 6608.90
SHORT BELOW: 6573
STOP LOSS: 6671
TARGET: 6230
RISK DISCLOSURE:
Technical analysis of FOREX and INDIAN MARKETS. We are not SEBI REGISTERED ANALYSTS The views expressed here are for our record purposes only. Please consult your personal financial advisor before investing. We are in no way responsible for your profits/losses what so ever.