Maruti Suzuki on beautiful Head and shoulders Short T 5429

We find Maruti Suzuki going bear and we expect it to fall further.

See the Head and shourlders pattern on the chart.

What is heads and shoulders ?

It is a pattern where three trianges are formed, the mid one is called the head, the other two sides are called shoulders. The mid head should be heighest and the shoulders should be nearly equal in a horizontal H & S. And the target for horizontal H & S ? it is the height of the head.

So here our first target is to 5429. We expect further move. But 5429 is our first target.

Caution is- we expect on monday to continue falling.

Komentar:

The stock is moving rapidly as per our setup.

we are going to trail stoploss to 5924