If you can see the graph I have tried to do 3 year - 1 year & 1 month analysis with volumes, on the three year chart-
1. Maruti is closing near to it's 3 year resistance & today breaking it with a bullish candle, also an Inverted HNS pattern has been formed which signals bullish move,
2. on yearly chart - vague double bottom is formed in last few months which too signals bullish move &
3. finally Volumes- they haven't been fairly convincing but according to HNS pattern volumes are low during right shoulder but after complete pattern formation - we can expect higher volumes with bullish momentum,
Expecting 10K for Maruti soon ( reviving back its old position :)
( yeah the technical indicators of Maruti are signalling STRONG BUY
1. Maruti is closing near to it's 3 year resistance & today breaking it with a bullish candle, also an Inverted HNS pattern has been formed which signals bullish move,
2. on yearly chart - vague double bottom is formed in last few months which too signals bullish move &
3. finally Volumes- they haven't been fairly convincing but according to HNS pattern volumes are low during right shoulder but after complete pattern formation - we can expect higher volumes with bullish momentum,
Expecting 10K for Maruti soon ( reviving back its old position :)
( yeah the technical indicators of Maruti are signalling STRONG BUY