Maruti
MARUTI
has again been rejected at the long therm downward sloping trendline.
Also, Friday's large Bearish candle erased all of Thursday's gains and looks like there is a formation of an Evening Star like pattern.
The stock may reach earlier support levels of 6700 and 6500.
Good to short here with stop just above the trendline.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
MARUTI
has again been rejected at the long therm downward sloping trendline. Also, Friday's large Bearish candle erased all of Thursday's gains and looks like there is a formation of an Evening Star like pattern.
The stock may reach earlier support levels of 6700 and 6500.
Good to short here with stop just above the trendline.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.