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 Maruti Suzuki India Limited

BUY 25 AUG 13700 PUT Entry Range 150 – 160 Target 75 Stop Loss 300

Rationale

• On the daily chart, MARUTI exhibits a bearish continuation structure, as the stock price faced rejection near the 14,000- 14,200 zone, which remains aligned with the short-term moving averages.

• From a technical perspective, the recent lower-high formation indicates weakening momentum, with prices holding below both the 20-DEMA and 50-DEMA, and the moving averages trendline sloping downward.

• Momentum indicators also remain weak, with RSI declining towards the 40 mark and MACD showing a bearish crossover. Hence, the bias remains negative for the near term, and recovery attempts are likely to face resistance near 13,900-14,000.

• However, the rising trendline from the April lows remains the key support zone near 13,500-13,400. A decisive breach below this trendline could trigger fresh selling pressure and extend the downside towards the 13,000 zone.

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