Maruti wide channel formation intraday & swing setup

7 Ağu 2023

MARUTI
Maruti Ltd on 2-hour timeframe
You can see a wide channel forming and currently trading at major trend + channel support trend line.

The probability of reversal is very high.

Entry has 2 Scenarios:-
1. It can Give a breakout above 9565 directly or
2. It will again test the support zone and forms a double bottom pattern and then breakout above the entry point.

You can plan SToP below the previous swing low or you can plan just below the current support lines.
The further Resistance zones are marked on the chart.

Trade after doing your own analysis.
These are my Views please comment your views on this idea so we can improve together.

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Keep learning.
Happy Trading.

8 Ağu 2023

Not

Archived 1st resistance.