MARUTI : BUY
Updated
As you can see from the chart, Maruti has been nouning from 6400-6500 rage and then reaches minimum to 7320-7350 range. It has already happened 3 times. On hourly chart, 20 EMA crosses over 50 EMA (pink arrow) and then we see a steep rally ( in all 3 instances). Volumes have been good in all past rallies and current rally. MACD is showing overbought but that was the case in past rallies too but counter continued its upward journey.7150-7160 is a resistance zone. One can buy stock either in dip around 7000 (SL 6880) or above 7155 (SL 7050) for target of 7340 & 7400.
Trade closed: stop reached
SL hit
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