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Based on Dow theory, higher bottom – higher top sequence with high volume indicates bullish trend.
Here, HB-HT sequence is observed and after 3747, the price goes up with high volume. So, we can expect a bullish trend to follow.
So, Risk is Entry (3747) – Stop Loss (ie corresponding bottom) (3489) = 258
Target – 258 + 3747 = 4005
Trade Plan: MARUTI / LONG /ENTRY – 3747 /STOP LOSS – 3489 /TARGET – 4005
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