Maruti is fundamentally good company which had a good bull run from Nov 2016.
The stock is respecting the bullish trendline and recently has formed double top indicating a minor correction is coming. Historically for last two years the stock has corrected after Oct-Nov before starting the bull run.
The stock has formed a doji after its Q2 results testing its resistance line at 8200.
Short below 8200 with SL at 8400 for T1 7950 T2 7700 and if broken further target at 7384.
The stock is respecting the bullish trendline and recently has formed double top indicating a minor correction is coming. Historically for last two years the stock has corrected after Oct-Nov before starting the bull run.
The stock has formed a doji after its Q2 results testing its resistance line at 8200.
Short below 8200 with SL at 8400 for T1 7950 T2 7700 and if broken further target at 7384.
Trade active
Trade closed: stop reached