It looks like Maruti is about to start Wave-V of the Elliot Wave (1hr candles)
It is worth trying a long position because the SL can be just a few points below May 30th low 8572... say 8560.
If it dips below that then the Wave structure visualised in the chart is not valid and has to be adjusted.
Even those who trade in futures are risking only about Rs2000-2500 per lot since the lot size is 75.
Basically I am quite sure that Maruti will go up in the June contract.
It is worth trying a long position because the SL can be just a few points below May 30th low 8572... say 8560.
If it dips below that then the Wave structure visualised in the chart is not valid and has to be adjusted.
Even those who trade in futures are risking only about Rs2000-2500 per lot since the lot size is 75.
Basically I am quite sure that Maruti will go up in the June contract.
Nota
Do not trade Maruti todayTrade attivo
Long @ 8583 SL 8550 June contract... risky but very tight SL so max loss of about 2300 per lot... targets to be decidedNota
Looks like this was a good entry. Trailing SL so no loss if it falls. Hoping for 8740 (June futures)... lets seeTrade chiuso manualmente
Closed @8616 (June futures)... today I am trading for small movements with multiple lotsNota
8619 was the 5 minute Kijun Sen line... closed because price could not break this resistanceTrade attivo
Went long on June contract towards close of market yesterday. Trade active. Hoping for 8871 which is the 50 MA (futures June price)Trade chiuso manualmente
Closed @8826 (futures price). Shall re-enter from lower levels. About 225 points per lot profit...Trade chiuso: obiettivo raggiunto
Bottom of Target range reached.Nota
Target 2 reachedNota
Long again in Maruti futuresTrade attivo
Position openTrade chiuso manualmente
Closed @ 8930 (futures price).Maruti has now hit the 38.2% Fib retracement of the drop from December to end May. It may correct a bit or consolidate. But the trend is up. Levels I am expecting eventually are: 9000/90150/9345 (futures prices)
Nota
Top of Target Range-1 reachedTrade attivo
Went long again on June 8th. Still holding.Trade chiuso manualmente
Closed yesterday. Expecting a bounce from about 8873...Nota
This is perhaps a good time to go long on Maruti. SL below 8850.Nota
Immediate target reached: 8999 in futures marketNota
Refer to the new chart as well:
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.