MELTING MARUTI...!!!

DURING LAST TRADING SESSION MARUTI LIMITED FELL BY MORE THAN 2.50% OVER ITS PREVIOUS CLOSE...!!!

LETS SEE WHAT WERE THE REASONS FOR STOCK TO FALL...!!! 

SUPPLY ZONE ON DAILY CHARTS.

Now in above chart we can see that Maruti stock price entered in supply zone and reacted sharply during last trading session. 

Now demand zone for this stock comes near to 4530-4540 levels. 

DOUBLE TOP

Along with supply zone stock was also approaching towards its previous life-high level and previous top of 4763 that also acted as resistance levels and whatever happened thereafter is not unknown to any trader. 

Below chart shall give clear idea about it. 

Now strong support zone for this comes in 4580-4555 zone.

BOLLINGER BAND

Whole candle outside Bollinger Band (Exceptional case) 

Though Diwali session was too short on duration & volume basis so it was too risky to short at those levels but still that session candle closed completely outside Bollinger Band and sharp reaction was seen during last trading session. 

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PLEASE NOTE THIS POST IS FOR EDUCATION ONLY AND UNDER NO MEANS IT SHOULD BE CONSIDERED AS TRADING VIEW/CALL/SUGGESTION. 

AT PRESENT WE DO NOT HOLD ANY POSITION IN SAID STOCK. 

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