MARUTI trade ideas
MARUTI - In Reverse Gear..Interesting pattern in #MARUITI, If we assume that we are in 5th Wave and most likely it would turn out to be a truncated one (View negates if close above 7300). Within this we have rare a) Busted Inverse Head and shoulders. b) Forming minor Head and shoulders within c) Major H and S both forming their right shoulder. Volume is increasing. Need-less to say drive with rear view mirror. Just stay short below this level. Target first 6750 and once we break then 6400.
MARUTI LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
7050-7035 CAN ACT AS GOOD RESISTANCE
BUY ABOVE IT IF THE LEVEL IS BROKEN WITH VOLUME AND CONVICTION.
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!
Symmetrical Triangle Breakout in "Maruti" - Bull Call Spread.Maruti has broken its symmetrical triangle on the upper side expecting a target of of 8000-8200 in the month of December.
Bull Call Spread on Maruti
+1x 31DEC2020 7200CE - ₹ 303.5
-1x 31DEC2020 8000CE - ₹ 72.25
Max. Profit - ₹ +56,875
Max. Loss - ₹ -23,125
Max. RR Ratio - 1:2.45
Breakeven - 7432
Estimated Margin/Premium - ₹23,000-- ₹25,000
MARUTI LOOK OUT FOR THESE LEVELS!!! ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
SELLING VOLUME HAS DECREASED, I WILL WAIT FOR CONFIRMATION BEFORE TAKING ANY SIDE TRADE.
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
If you like the analysis, do leave a like and follow for more such content coming up.
The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!
Maruti (At a Crucial Juncture ?)Maruti has formed a beautiful long term triangle and now looks like it is on the verge of a breakdown/reversal. In case of a breakdown multiple targets can be set which the green/yellow lines acting as Stoploss (9EMA (Green Line) and 50 EMA (Yellow Line). The Red line could be the first target (200EMA), however if the trend is strong the price might continue to slide down. On the upper end the yellow lines could act as resistance and hence trade targets.
The market as of this week should ideally pick up a short term trend on the back of Joe Biden being elected as president and hence the sentiment/price action shall follow. Some Volatility might be expected on the back of announcements made by the incoming president or any hurdle posed by trump which he is likely to do and there might be a sudden reversal in the trend.
So as for a trader these situations can be very tricky and might cause losses in a very short time. Please be careful and trade with caution.