Maruti Suzuki breaking the trading range (Technical analysis)

We traders always look for opportunities. Now these opportunities come when there is a trend and that trend shows sign of changing the trend. Yesterday Maruti had given such a trend breaking signal. Below is a complete technical analysis for the same.

If you see the current Maruti technical charts there was a continue range trend from 1220 to 1300. This range trend was there for past 1 month. So if you see the charts this trend was exhibited right from the month of August 20 till today.

This range trend was broken two trading session before. And the most interesting point of this range broken was that the volumes of the green candles where higher than the volumes of the red candle. Do have a look the image shown below.

Interestingly for past two sessions and also including the Friday session it respected that range trend break by forming DOJI above 1300.

So we think that this stock will probably have a short term uptrend in the coming trading weeks. Happy trading.

See syllabus for Technical analysis training in Mumbai,India.

Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html