Maruti completed a bull phase with supply seen in the 8450 - 10000 rectangle zone.
The scrip appears to be breaking out of a year long downward channel move on the back of rising demand as seen in the volume with reasonable accumulation.
Stop Loss: 6650
Target: 8450
The scrip appears to be breaking out of a year long downward channel move on the back of rising demand as seen in the volume with reasonable accumulation.
Stop Loss: 6650
Target: 8450
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Trend appears to be intact.
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Stop Loss should now be trailed up to 7000.
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Bullish trend appears to be intact. Stock stayed strong after the announcement of the monthly sales figures.
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Selling pressure was followed by a short term support at breakout levels. One could imply that the buyers at those levels are ready to defend their long positions.