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Maruti Suzuki

Discussion in 'Technical Analysis' started by siva934127, Apr 11, 2013.

  1. siva934127

    siva934127 Member

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    Hi Shabbir and All,

    Maruti was not able to cross the resistance, Can take position 'short' or need to observe 2 more days.

    Please find the attachment and let me know your views.

    Do you think this is a risky?

    Thanks,
    Siva.
     

    Attached Files:

    siva934127, Apr 11, 2013
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  2. vishuhd1

    vishuhd1 Member

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    According to me it's looking like a breakout.. But wait for couple of trading sessions to confirm this.. If 1460 and 1480 levels gets broken on the upside, then it's surely a breakout.. Otherwise, u can consider this for shorting candidate..
     
    vishuhd1, Apr 11, 2013
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  3. shabbir

    shabbir Administrator Staff Member

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    I see a solid pinbar (which will be confirmed after end of today) and so I will wait for the pinbar and if it is formed it is trend reversal and so would decide then.
     
    shabbir, Apr 11, 2013
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  4. kamat79

    kamat79 New Member

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    Yes, wait for 2-3 sessions.
     
    kamat79, Apr 11, 2013
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  5. siva934127

    siva934127 Member

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    Hi Shabbir and All,

    I think Maruthi has formed 'W' now, Can take call or need to treat today candle just like a dupicate spike.

    Please let me know.

    Thanks,
    Siva.
     
    siva934127, Apr 16, 2013
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  6. shabbir

    shabbir Administrator Staff Member

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    I don't see a W and can you attach the chart as an image.
     
    shabbir, Apr 16, 2013
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  7. vishuhd1

    vishuhd1 Member

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    According to me, there's no W formed but certainly it has formed a breakout pattern by closing above 1472... You can enter in this for next targets of 1520-1590-1635... SL is 1430...
     
    vishuhd1, Apr 16, 2013
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  8. siva934127

    siva934127 Member

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    Hi Shabbir and All,

    Intially the pattern was formed lower top lower bottom and now it has break out and it looks like 'W' that is why treated like that, correct me if i am wrong.

    Please find the attachment regarding this.

    Thanks,
    Siva.
     

    Attached Files:

    siva934127, Apr 16, 2013
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  9. srspriya06

    srspriya06 Active Member

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    This is not W pattern. W pattern forms when Second low is higher than the First low. But in the above chart second low is lower than the first low. So it is not W pattern. This is clearly explained in the Shabbirs book. Refer it.
     
    srspriya06, Apr 16, 2013
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