The Sleeping Giant, Maruti is the countries leading auto maker and with largest market share in the segment but if you the stock price it has done nothing so anyone who has been holding the same from last 3 years is very much at same price.
The crash in 2020 march thou given an strong opportunity to invest in Maruti where the price fell to 4000 around levels and from there the same has almost doubled.
The stock has been trying to breakout from the range, the red line is the resistance area where it tried to breakout but the sellers have been strong and push back the stock to the support marked in green.
Now trading around 7200 the stock will be a good long term bet once it is around 6500 for investors. The major uptrend will begin once 7800 is sustained, only then we will see the same to run for 10000 mark.
EV shall be a good trigger and this consolidation phase shall get over soon. What do u think put in comments !
Leave a Reply