Maruti Getting Ready For Big Moves

  • Stock Market Analysis
  • Editors Pick

Friends, we have found two stocks that are getting ready for big up moves. One from automobiles and another from the banking sector. The market is hitting a lifetime high back-to-back and every dip showing buying. It is the indication of our strength and we can go for investment stocks.

Maruti (NS: MRTI ): As per the chart, the stock has made Double Top at 10000 and then shown a major fall before the first lockdown. After a fall of 60% from the top, it has taken a U-turn from 4000 and now trading in Higher-High Higher-Low. However, the stock has three times resisted from 8000 levels and now new low is above the previous one. It is the Inverted Head & Shoulder and the pattern has done around 90% so we are expecting a rally till 8000 i.e. resistance. If the stock crosses it and gives a breakout then the rally will go to 10000. It is looking good long from current levels or on breakout and support is around 6400. Also, a company having good fundamentals.

  • The company is almost debt-free
  • ROE is good and the company giving a good dividend
  • Quarterly net profits are gradually increasing
  • Promoter holdings are more than 50%

Maruti_D

Kotak Mahindra Bank Ltd. (NS: KTKM ): If look at the banks then all are running but Kotakbank is trading in consolidation for the last two months. The price is taking support from 1700 that is top made in December 2019 and now there is major Double Bottom has done on a daily chart. We are just waiting for breakout then it will fly. The strong support is 1700 and resistance is 1800. It is one of the strongest private sector banks which have good fundamental.
kotakbank_D

ORIGINAL POST

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
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100
  • parth pandya @parth pandya
    it's better to do a regression then trendline
    Like 1
  • Vishal Upadhyay @Vishal Upadhyay
    resistance is 1820-30 zone once closing above this level will witness spurt
    Like 1
  • ADITYA GUPTA Delhi @ADITYA GUPTA Delhi
    Hello Sagar sirin Maruti share your deep analysation is very much correct.... it will work... thanks
    Like 2

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