Positive Bias: Maruti has formed a clever Head & Shoulder pattern despite of that the current trend is in fast pace of Fib retracement of 0.38. I'm bullish for a long run if it sustained above @6855 level.
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Points to be Note (Technical + Fundamental)
1. Head & Shoulder pattern formation.\
2. Anticipated rejection at level 7060 due to increased in sales.
3. Sales soars, Decreased in profits no issues why? Cash flow has been increased in investing activities, Reserves has been increased by impressive numbers.
4. Secondary trend Retracement are not below 0.38 fib which indicates bullish secondary trend is in fast Higher-Highs.
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Le me know in comment section what's your views on this?
MARUTI
.
Points to be Note (Technical + Fundamental)
1. Head & Shoulder pattern formation.\
2. Anticipated rejection at level 7060 due to increased in sales.
3. Sales soars, Decreased in profits no issues why? Cash flow has been increased in investing activities, Reserves has been increased by impressive numbers.
4. Secondary trend Retracement are not below 0.38 fib which indicates bullish secondary trend is in fast Higher-Highs.
.
Le me know in comment section what's your views on this?
MARUTI