Maruti Suzuki Chart Breakout Watch | Ascending Triangle Pattern

15 May

MARUTI

Maruti Suzuki is currently forming a bullish ascending triangle pattern on the 1-hour chart, indicating potential for an upside breakout.

1. Pattern Formation: The price is making higher lows while facing horizontal resistance near the 12,700 zone — forming a classic ascending triangle.

2. Support Zone: Trendline support is holding well, currently near 12,550.

3. Breakout Levels: A confirmed breakout above 12,700 could trigger a sharp move toward the next resistances at 12,888, 13,075, and possibly 13,454.

4. Bullish: Post-breakout, price action is expected to retest and then rally — as shown by the projection arrows on the chart.

5. Volume Confirmation: Watch for volume expansion on breakout to confirm strength.

Trading Plan:

Buy on Breakout: Enter long above 12,700 with targets of 12,888 - 13,075 - 13,454. Use SL below 12,550.

Wait-and-Watch: If price fails to break out, stock may stay range-bound or retest trendline support.

Conclusion:
Price action suggests strength building up. A breakout from this pattern could lead to a fresh rally — ideal setup for short-term swing trades

16 May

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