LAST WEEKLY RECOMMENDATION:

SKSMICRO IS ON FIREEEEEEEEE …!!!!!!!!!!!!

ALMOST HIT FINAL TGT 570  MADE HIGH OF 568.30 BUY AT 527

LOT SIZE: 1000

WEEKLY TOTAL PROFIT: 82600 IN JUST TWO LOT

FUTURE :

 “SELL MARUTI BELOW 3750 TGT 3650/3500”

WEEKLY CHART FOR MARUTI:

Charts usually tell us what is going to happen. Maruti is probably going to see lower levels." Maruti Suzuki   has started its 2016 sales performance on a disappointing note. The country's largest car manufacturer sold 1.13 lakh vehicles in January, down 2.6 percent compared to 1.16 units sold in same period last year. The stock declined 3 percent intraday. "Domestic sales would have been higher, but lesser number of working days in January 2016 impacted overall production and dispatch," the company reasoned.  Maruti exported 7,223 vehicles during the month, lower by a whopping 34.6 percent compared to 11,047 vehicles sold in year-ago period while domestic sales increased 0.8 percent to 1.06 lakh vehicles in same period.
Primary trend of the stock is bearish and is consolidating at the higher level after showing correction. It is expected to continue the bear run with the crossing of the support level of 3710, as the stock is sustaining below  its 55 and 22 days moving averages. One may initiate the short position below the mentioned level for the targets of 3500/3400 .
It is looking weak on charts and recently has given breakout of its previous major support  level 4000, now it has next support at the level of 3500; it is likely to experience fresh selling with the crossing of mentioned level. and is forming a reversal pattern in short term charts, it is likely to show correction with the breach of the reistance level of 4000, where one may initiate the long position in it for the targets of 4500.