August 21, 2015
Maruti Suzuki (NSE Cash)
SELL
` 4700
` 4555 - 4575
` 4310
5-10 sessions
4450
4350
4610
4690
Bearish
Long Legged
Doji pattern
after a sharp
rally
Source: Falcon (Chart time - IST 12:15)
This stock has given a stupendous rally from the March 2014 low of `1543.37 in such a short
span. The broader term trend remains strongly bullish; but, with a near term view, we are
observing some signs of weakness.
The daily chart depicts a ‘Long Legged Doji’, formed yesterday, which certainly does not
bode well for the bulls. The said pattern got confirmed as the stock prices are trading below
the low of this pattern.
In addition, the weekly ‘RSI-Smoothened’ on the daily chart has given a negative crossover
for the first time in the recent past.
Considering these evidences, we expect some profit in the stock and thus, we advise traders
to sell this stock from current level to a bounce up to ` 4575 for a target of ` 4310 in coming 5
to 10 trading sessions. The stop loss for this trade set up can be kept at ` 4700.
August 21, 2015
Maruti Suzuki (NSE Cash)
Last 5 recommendations
Date
Stocks
Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss
Status
Active
20-08-2015
LT
SELL
1780 - 1785
1734
1705
-
1828
Exit
19-08-2015
M & M Fin.
BUY
265 - 263
264
282
-
255.50
SL Triggered
18-08-2015
Lupin
SELL
1758 - 1768
-
1645
-
1818
SL Triggered
12-08-2015
Kotak Mah Bank
SELL
697 - 703
-
658
-
720
20-07-2015
Bank Of Baroda
SELL
154 - 155
-
144
-
159
Exited at 152