Technical Stock Idea - Buy Maruti Suzuki India Ltd For Target Rs.10500- Monarch Networth Capital
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Maruti Suzuki
Stock was in up-trend from March 2020 till Jan 2021 and since then went into broader time and price wise consolidation. Recently stock managed to take support at the lower level of rising formation andsince then prices have shown positive development in last couple of weeks.
Momentum oscillator Relative strength index (RSI) is trading above 50 level which is showing early sign of momentum build-up.
Recommendation is to buy at current market price or on dip near 7600 – 7500 level with stop loss at 6400 level and Target at 9000 - 10000 levels.
Buy : Maruti Suzuki India Ltd Buy range: CMP: 7945 SL: 6400 TARGET :- 10500 TIMEFRAME: 4-6 MONTHS
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