Maruti: On road to some recovery

Maruti
Cmp 5126

On daily charts we observe 3 white soldiers candlestick pattern

Any dips towards 5080-5050 may be considered as entry opportunity

Target 5350 / 5575 / 5633 / 5820

SL Short term traders can keep SL @ 4980

Medium term play ( target 5620) - SL if closing below 4820

---------------------------------------------------------------------------------------------------------------------

Alternatively, consider selling Maruti 25 June 2020 expiry 4800 Put option between 150 - 180
Max profit potential in strategy Rs 15000/- to Rs 18000/- per lot.

ROI potential of 12-14.4%

Take care & safe trading...!!!

Trade closed: target reached:

Maruti Target of 5820 done

High of 5828