Maruti Suzuki Fined 200 Cr by CCI - Gap Down expected

Automobile sector is already suffering from semiconductor chip shortage in general. The latest 200 Cr Fine by Competition Commission of India on Maruti Suzuki definitely doesnt help the company. I have used Fibonacci Pivot Points to set a target - Take 70% at S2 and Rest 30% at S1, The Stop Loss has been set at the recent high candle.

Happy Trading!

This is not a Financial Advice, Please consult your Financial Advisor before placing trades.

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Target 1 reached in 2 days, Stop Loss has been moved to 6871 for the rest 30%. Happy Trading!

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All Targets reached on 26th August. We will monitor the levels for now and see which diection it breaks before entering a trade again