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Ashish Chaturmohta
Sanctum Heritage Management
Maruti Suzuki India is in the long-term major uptrend forming higher highs and higher funds. In December 2017, the stock reached a high of 9996 and was then corrected to 8255 levels. The badysis of the weekly stock of cards has formed a double bottom.
The rebound of lower levels was on above average volumes and long bullish candles indicating a buying stake in the stock. Over the last two weeks, the stock has moved in a narrow range and has formed a pole and a bullish flag above the breakout level of the double bottom.
On Monday, the stock had a good momentum and good volumes. . The daily MACD line has given a positive crossover with its average suggesting the beginning of a new uptrend in the stock.
Thus, the stock can be bought at current levels and on troughs at 9600 with a stop loss below 9400 for a target of 10500 levels
Disclaimer : The opinions and advice of Investment expressed by an investment expert on Moneycontrol.com are his own and not those of the site or its management. Moneycontrol.com advises users to check with certified experts before making any investment decision.
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