Maruti Bearish Bat PatternBearish Bat In Maruti
Sell PRZ - 9575 - 9600
SL - 9800 ( Day Closing Basis )
Target - 9000/8800
Marutisuzukiforecast
Weekly analysis of Maruti Suzuki (08/08/22).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.
The stock has been taking support from its 20 DMA and is trading just above the moving average.
Gravestone doji with a high volume confirms a shorting opporunity in the stock.
There are 4 green candle on the monthly analysis and in the first week of the month is has formed a nice shorting signal.
Support :- 8850, 8377
Resistance :- 8970, 9530
If the daily candle closed below the 20 DMA, maruti is short upto the level of 8400.
Otherwise, wait for the weekly close and take targets of the moving averages.
Maruti will go high. (40.38 % delivery today)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 rate to more than 7,000 cars, the people cited above said on condition of anonymity. Parent Suzuki Motor Corp. has recently added a new assembly line in its Gujarat factory, and production will be increased as a consequence.
education purpose.
Maruti | Cup & HandleCup & Handle pattern observed in Maruti. Pattern is confirmed as price has broken above 6080. Pattern suggests a target of 6260.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
MARUTI | Descending Triangle observedDescending 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 6500 is a very critical level for the stock.
