Maruti Suzuki is forming a beautiful inverted head and shoulders in the weekly time frame. Once broken at 8500 it will give a short term targets of 10000 and if that is broken a good target of 13000+ levels are possible ( This is the possibility based on the technical approach although the semiconductor issue may be there till the mid of 2022)
This stock deserves...
During Diwali season we can expect auto stocks to pick momentum and safer than tata motors will be Maruti!
follow the 40-30-30 principle while accumulating it, as it's an expensive stock and we don't want to get trapped if the price goes against our view!
After the issue of semiconductor issue in auto sector , auto stocks have given a good correction. But chart indicates that the stocks are bottoming out. As always technical comes first then the news.
MARUTI
Buy-Above 6950(Add Till 6740)
Sl-6590
T-7335 7655 8000+
Trend reversal happened and MACD is about to crossover from downside and trend lines holding strong and Strong RSI would favour achieving upside target.Price is at an important level near 200 day and 50 day EMA.
Can happen anything in the chaos.Invest at your own risk.
MARUTI : a bit risky trade as it is in down-trend since last two months and now a probable reversal may seen above Rs.6950...
Entry above Rs.6960
Stoploss : Rs.6819 & Rs.6739 (as per risk management)
Targets : Rs.7240 (much achievable), Rs.7335, Rs.7450
NIFTY 50 EOD ANALYSIS -16-09-21
IN SUMMARY
O / H / L / C
17539.2 / 17644.6 / 17510.45 / 17629.5
H-L = 134 points
VIX 14.41 / +4.95%
FII DII: +826 Crores
Likely open: Flat to mild positive. All eyes would be on BANK NIFTY - whether it can hold higher levels and attain ATH as the week draws to a close.
CHART BASED CONCLUSIONS - 15 Minutes Chart
A mild...
NIFTY 50 EOD ANALYSIS -08-09-21
IN SUMMARY
O / H / L / C
17375.75 / 17383.4 / 17254.20 / 17353.5
H-L = 149 points
VIX 14.41 / -3.29%
FII DII: -802 Crores
Likely open: BANK NIFTY holds the key. Based on the numbers looks a flat to a positive open.
CHART BASED CONCLUSIONS
NIFTY played negative today and did not even bother to go past the opening high made...
