sell MARUTI ABOVE 8050 TGT 8000/7900 SL 8120
TECHNICAL VIEW: After showing strong bullish movement , it
is forming a reversal pattern in short term charts, Primary trend of
the MARUTI is bearish. Strong Support level seen on daily chart
at 8050. , it is likely to show correction with the breach of the support
level of 8050, where one may initiate the short position in it for the targets
of 8000/7900, while stop loss can be placed at 8120. On the other side It
is likely to continue the upside move in near term with the crossing of the
resistance level of 8150. as the stock is managing to trade above its
22& 50 and 200 days moving averages with the RSI of 60. After
breakout, the level of 8150 One may get the targets of 8200,8260 in the stock
with the stop loss of 8050.
DAILY CHART FOR MARUTI:
