Maruti - At Crucial Support
Updated
Currently, the price action failed to cross above the initial resistance level of 6650-6670 (indicating continuation of prevailing down trend) and came back down to test the previous strong and crucial support. Now, if the price action got further weaker then it may break the crucial support range and goes further down to 6000 levels. It shall be the continuation of the prevailing down trend as previous trend is forming Lower Highs and Lower Lows. Keep a watch on closing of the price action and if it goes below support, be prepared to short it.
Target: 6000
Stoploss: 6650
Risk Reward: (1:4)
Target: 6000
Stoploss: 6650
Risk Reward: (1:4)
Trade active
Comment
100 points down in 15 minsComment
It did close below the crucial support zone, indicating further weakness in the next week. Trade closed: target reached
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