Maruti Suzuki is engaged in the manufacture, purchase and sale of motor vehicles, components and spare parts (automobiles). The other activities of the Company comprise facilitation of pre-owned car sales, fleet management and car financing. Its geographical segments include the domestic segment, which includes sales to customers located in India, and the overseas segment, which includes sales to customers located outside India. The Company’s product portfolio includes Alto 800, Alto K10, Wagon R, Celerio, Ritz, Swift, DZire, Ertiga, Omni, Eeco, Gypsy and Ciaz.

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SHORT TERM PERSPECTIVE

Company Maruti Suzuki India Ltd.
Recommendation Accumulate (Rs.6430-RS.6470)
CMP Rs.6497.70
Stop Loss (SL) Rs.6250
Target Price Rs.6850-Rs.7000
Time Horizon 2-4 Weeks

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Intermediate and short term trend is up in this stock. The stock has continuously been making a higher top and higher bottom formation on the daily chart which is bullish in nature, after a moil correction the prices have taken support from its 200 Day EMA and resumed its upwards move. Increase in volume and positive diversion from oscillator indicate that it can move higher from current levels so one can accumulate the stock between (Rs 6430-6470) With a stop loss of Rs. 6250 on closing basis and respected target seems Rs 6850-7000. Time frame should be 2-4 weeks.

DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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