Maruti on the weekly time frame has formed a gravestone doji and respected the trendline that it has been following from April 2019.
The stock is trading in the parallel channel and there is a resistance area formed by the previous high.
In the last 2 months, the stock has gained around 15% and the double trend line rejection can be a signal of shorting...
Maruti P/E 49.36
Sectoral Index P/E 221.12
Maruti Suzuki India Ltd is planning to increase production by 200 cars per day from near month, two people aware of the company’s plans said, as the country’s largest carmaker bets that demand for personal mobility will continue amid the resurgence of the pandemic.
The increase in output will take the daily production...
Cup & Handle pattern observed in Maruti. Pattern is confirmed as price has broken above 6080. Pattern suggests a target of 6260.
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Descending Triangle pattern spotted in Maruti. Depth of pattern looks to originate from 7950 towards the base of 6500, forming a considerable 1450 points. Pattern could be considered valid once the price closes below 6500. Further, if the pattern is confirmed technical target would be at 5050 based on the pattern. That accounts for a fall of 22% from 6500. Hence...
