Trading below 50 SMA and posting weakest sales number is not going to go very well for Maruti its a sell at all levels and may hit 5500 soon.
This is more of change in fundamentals of the automobile sector.
No revival to be seen till Diwali.
The weak numbers from auto companies lead to massive selloff in the auto stocks and also auto ancillaries.
Seems the fall would become a bit nimble now.
Below 8750 we may see more weakness towards 8515.
Bharat Forge is a buy above 520 SL 500
Bharat Forge is a sell below 500 for small target of 485 which shows a fibonacci support level also. We are also seeing a crossover in STOCH RSI
Since NIfty is bullish we may see a bullish move in Bharat Forge
If the correction happens which is most likely we may see support near 9200 levels thus allowing fresh investors enter in the markets.
A ladder is made up of rails and steps so to reach new highs each step should be completed for the next big run.
So technically if the correction happens the next support is at 9200
The stock has a multiyear support at 24 which will form the base for the next rally if Nifty is in uptrend if this support is broken the next support will be at 20 levels.
Once can accumulate the stock for long terms and keep adding on dips the stock is in strong uptrend and has good potential owing to its exposure to Patanjali which is doing too good.
Poona Dal and Oil Industries Limited is an India-based agro-based company. The Company is engaged in the business of manufacturing and trading in edible oil and pulses. The Company operates through two segments: Oil Division and Agro Division. Its Oil Division includes oil, by products and others. Its Agro Division includes pulses, processed pulses, processed...