Maruti to Zoom after forming Shooting Star & Rsi Divergence
The stock has been badly hit in the recent downturn. However there are early indication of the stock coming out of woods.
On 28th October we can see a Shooting Star candle formation indicating selling climax and the stock seems to turnaround
*]The Relative Strength Index is also showing some divergences. Here by divergence I mean, recently the stock clocked lower low on price but the RSI resisted to fall below its earlier low indicating Higher low. This indicates building strength in the stock.
further more the stock closed 10 points above the 6 day EMA which placed at 6788
also the stock closed above the blue Trend line shifting the focus of bears
Any fresh buying in the stock may take it to 7200 & 7633 which is 23.6% & 38.2% respectively retracement of the fall from 9468 to 6500
One Can consider buying The stock above 6830 for a Target of 7200 & 7600 with strict stop loss below 6500
Happy Reading....
Happy Trading .....
Be A Wealthy Trader.....
Giao dịch đang hoạt động:
The view on Maruti is still positive, The stock has created panic on tuesday but has successfully hold the stop loss level of 6500.
Handsome rewards who could hold despite sharp Fall.
"Patience & Temperament with right strategy are the essential qualities for winning the supernormal reward in trading".
Handsome rewards who could hold despite sharp Fall.
"Patience & Temperament with right strategy are the essential qualities for winning the supernormal reward in trading".
Giao dịch được đóng thủ công:
Maruti is already up 10% from recommended rate and approx 15% from the low point after our recommendation.
Book huge profits
Book huge profits