Automobile sector is already suffering from semiconductor chip shortage in general. The latest 200 Cr Fine by Competition Commission of India on Maruti Suzuki definitely doesnt help the company. I have used Fibonacci Pivot Points to set a target - Take 70% at S2 and Rest 30% at S1, The Stop Loss has been set at the recent high candle.
Happy Trading!
This is not a Financial Advice, Please consult your Financial Advisor before placing trades.
Komen
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Target 1 reached in 2 days, Stop Loss has been moved to 6871 for the rest 30%. Happy Trading!
Komen
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All Targets reached on 26th August. We will monitor the levels for now and see which diection it breaks before entering a trade again