Maruti - Start of Wave-V ?
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.
ملاحظة
Do not trade Maruti todayتم فتح الصفقة
Long @ 8583 SL 8550 June contract... risky but very tight SL so max loss of about 2300 per lot... targets to be decidedملاحظة
Looks like this was a good entry. Trailing SL so no loss if it falls. Hoping for 8740 (June futures)... lets seeتم إغلاق الصفقة يدويًا
Closed @8616 (June futures)... today I am trading for small movements with multiple lotsملاحظة
8619 was the 5 minute Kijun Sen line... closed because price could not break this resistanceتم فتح الصفقة
Went long on June contract towards close of market yesterday. Trade active. Hoping for 8871 which is the 50 MA (futures June price)تم إغلاق الصفقة يدويًا
Closed @8826 (futures price). Shall re-enter from lower levels. About 225 points per lot profit...أغلقت الصفقة: تم الوصول للهدف
Bottom of Target range reached.ملاحظة
Target 2 reachedملاحظة
Long again in Maruti futuresتم فتح الصفقة
Position openتم إغلاق الصفقة يدويًا
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)
ملاحظة
Top of Target Range-1 reachedتم فتح الصفقة
Went long again on June 8th. Still holding.تم إغلاق الصفقة يدويًا
Closed yesterday. Expecting a bounce from about 8873...ملاحظة
This is perhaps a good time to go long on Maruti. SL below 8850.ملاحظة
Immediate target reached: 8999 in futures marketملاحظة
Refer to the new chart as well:
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.