Review of MARUTI-I as of 7/19/2013 8:30 AM MARUTI-I broke above - TopicsExpress

Review of MARUTI-I as of 7/19/2013 8:30 AM MARUTI-I broke above the upside resistance level of 1,455.38 yesterday. This is a bullish sign. This previous resistance level of 1,455.38 may now provide downside support. Volume on the period of the breakout was quite heavy 364% above average. This makes the breakout even more significant. If you decide to trade MARUTI-I, you may want to place a stop loss just below the resistance level, in case the breakout is premature.The most recently confirmed downside support level for MARUTI-I is around 1,410.23. Expect prices to have some difficulty falling below this level. A break below this level (particularly on heavy volume) would be a bearish sign

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