Get started

Marutisuzuki

Maruti Suzuki India Ltd.Maruti Suzuki India Ltd. is in a very good shape right now. Let me take you to few historical insights. Recently a Wolfe Wave was completed determining its Point 4 for the primary Wave. A smooth reversal from the point hints towards initiation of Wave 5th . 7533 to 7730 is the rectangular consolidation phase of the stock with a drying volume. As the selling volume was really high while the stock was in wave 4th, I expect there could be huge buy volume in the upcoming days. Mark the blue trend line that is a long term support. All black lines are the minor resistance lines, Which the stock could respect while moving upwards. From the CMP 7568 till 7400 is a very good accumulation phase. Stop-loss and Targets will be updated later. As Maruti Suzuki India Ltd. has a heavy weightage in NIFTY AUTO, Maruti Suzuki India Ltd. would be a important player once the index starts moving up. CHART AND ANALYSIS BY - ADARSH DEY
NSE:MARUTI
by AdarshDey
2
Maruti 50% upside (target = 11,000) Date: 28 Dec 2020 Maruti Suzuki (CMP: 7,483) Chart Time Frame: Weekly Chart a) Maruti has formed an Inverse Head and Shoulder pattern on a weekly basis. b) Stock price is sustaining above all its 'Weekly Exponential Moving Averages' - 10 WMA, 20 WMA, 50 WMA & 200 WMA. c) The average Volume has increased more than double since the formation of Inverse H&A started taking shape. d) During the left shoulder formation RSI was little over 30 level of oversold zone. However, during the right shoulder formation the RSI was well above 50 level indicating a strong bullish level formation. With such a strong setup it is a perfect time to go long on Maruti Suzuki for 2 years. You can get 50% return in Maruti during this period. Target = 11,000. Stop Loss = 6,000.
NSE:MARUTILong
by Mayur_Undale