Head and Shoulder Pattern Breakout in MARUTI for target of 6132- Short

MARUTI SUZUKI INDNSE

Description

⋅ Feb 22, 2021 6:02 AM

In today's session, Maruti gives head and shoulder pattern on the daily chart. After this breakout huge downside expected. According to the pattern projected target possible 6132 in the upcoming few trading sessions. 6740 and 6300 levels will act as intermediate support during this fall.

Comments

vaibhav14476

⋅ Feb 23, 2021 9:12 AM

Head & Shoulder pattern has one very bad habit . After breakout,very often it again come above neckline ...... force shorters to cover & only after that happens ....... it goes down .

dongabhavin102

⋅ Feb 23, 2021 11:08 AM

U are great sir.

PowerOfTA

⋅ Feb 23, 2021 5:37 AM

Check ICICIPRULI and BATA INDIA

siva5313

⋅ Feb 22, 2021 5:13 PM

it will take support at 6950-7050 level, as at this level MARUTI touches 200DMA and 50WMA. If it takes support at those levels one can expect for long in MARUTI.

Note: This is only an educational discussion not a investment suggestion.

bhargavshah1992

⋅ Feb 23, 2021 8:54 AM

@siva5313, can we take march pe 630

UnknownUnicorn1192892

⋅ Feb 28, 2021 12:01 PM

It would go more down if you look at MN time frame, more likely to hit 5200-5800 in coming months

SoftEngTrader

⋅ Feb 25, 2021 6:08 PM

I took swing trade on same study - booked early because of glitch on 24th