Maruti - Daily Chart Analysis
On 20th June, Maruti made failed attempt to bounce from support area (6320 - 6400) of last 5-6 months. But on 21st June, it again formed bearish candle and now low of 28th Jan i.e. 6317 is first target. Once it breaks that level, gates will open for 5900 and eventually 4800. Level of 5900 is possible in 1-2 weeks. Aggressive traders can buy 6300 June Put.
Maruti - Weekly Chart Analysis
Since 26th Oct 2018, 6300-6500 acted as support zone 4 times. But in last week (17-21 June) it looks, finally its breaking this level. Next support level on weekly basis is 5938 and after that support comes at the level of 4777.
Maruti - Monthly Chart Analysis
Maruti since Oct. 2018, has shown support around 6300-6500 and resistance at 7600-7900. Opening of BB pattern suggests more downside in coming months upto 5858 and then crash upto 4732.
Stock is making lower highs and lower lows except 20th June
On 21st June, stock went down with high volume.
On 21st June, fresh short position built up seen.
