Maruti Suzuki will Q3 results make stock boom or doom. It has been a stellar performer in the year 2016 and 2017 from 3000 more than tripled almost touched 10000. since then stock has been under-performing now trading crucial level down almost 30% from highs at 7163.
The million dollar question is,
What the stock hold as Q3 results are in the corner?
Is there a big STAR trading opportunity coming up in the stock?
will the stock gloom or doom?
The auto index also have been under performing and in impulse 5 wave decline in Wave 5 down. Also Maruti is one of the heavy weights in the sector. Therefore, the broader picture paints gloomy picture for stock is well.
Maruti Suzuki has broken out of a bearish Head and Shoulder pattern southwards as shown in the charts.
Thus keep your fingers crossed for the Q3 results.
Though it is always important to use combination simple along with advanced techniques to get confirmation for trade setup. Hence, the power of simple patterns along with the application of [P] square Elliot Waves will provide the objectivity. As the combination of multiple tools and appropriate risk and money management strategies is key to successful trading.
Thus, there is a big STAR trading opportunity in short, medium and long term coming up for the stock keep you fingers crossed.
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