NeeteshJain
Short

Maruti - Doji with Bearish Divergence (Sell)

NSE:MARUTI   MARUTI SUZUKI IND
I have observed three doji candlesticks , that denotes consolidation or distribution, where previous buyers book profit or distribute their shares. It is at the level of selling or resistance. I believe it is a good time to short it now at minimum risk size and also at this point where Nifty             is also looking bearish .

Further 3 points noted:
1. Doji formation with bearish divergence
2. Shrinking of volume levels with increasing prices, signals trend change, for this one, a bearish signal.
3. Double Top with bearish divergence.

Above points make me think that it is a good sell, with a stoploss of 4238 (1.28%) and target of 3922 (6%)
Here is the free link to access my new Telegram Channel: W-Traders (Social) https://t.me/Wtraders
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out