Bulls were able to defent the level of 8600 for quite sometime. But they gave up on last Friday. Below 8500 (can be a good SL for short trade), 8300 to 8000 could be the support range.
Looks like Maruti hitting some rough roads temporarily....
Breaking down to 8174?
Then...pull back to 8510....short again?
Watch the price action.......
MARUTI TREND CHANGER LEVEL AT 8560
LAST CLOSE WAS 8607
ONCE STOCK BREAK 8542 LEVEL CAN TEST 8460-8400-8295
MARUTI WEEKLY LEVEL ARE
GO LONG ABOVE 8690 TARGET=8750-8860-8950 STOPLOSS=8610
GO SHORT BELOW 8542 TARGET=8460-8400-8295 STOPLOSS=8600
There was a huge sell off which pushed the price at 75D EMA which also looks like the mid term personality. There's also a monthly & weekly demand zone below 8700 and possibly it would react from the demand zones.
Let's wait and watch what it has to offer.
Maruti Suzuki on daily chart, already reacted from demand zone for aggressive trader at 9246 with SL 8990 for an upside target of 9760 RR: 1:2
For defensive trader its a buy at 9150 same SL.
CMP: 9323.95
Maruti Suzuki India Ltd (NSE: MARUTI) is about to get into a Bearish Move as per TTC Breakout Formation . The Critical Make-Or-Break Zone is at around 8115 . If it penetrates decisively below this zone on a one-hour closing basis, then we might see the sellers dominating the market.
For Short-term targets, traders should eye on 7935 Zone and then 7800 ,...
