Tuesday, April 28, 2009

>Maruti Suzuki Technical Analysis

Maruti Suzuki (MSIL) has outdone street expectations as volumes have rebounded (up 17%yoy) in Q4FY09 on a high base.

Which fueled nice rally in the whole automobile sector ,Maruti itself saw nice swift one way
rally ,The present wave structure suggest ongoing
correction can still continue.

Maruti can be shorted in rises (835-840) could be a perfect short with sl at 872
downside target at 750 a nice 70-90 points with risk of 30 points.
Keep eye on other auto stocks too they usually move in unison.

Check what Research houses say about Maruti.

Maruti Suzuki (IDFC SSKI)



Anonymous said...

shud i exit Maruti shorts as today (12th May)it hit 875 i.e 3+ on ur stoploss level ?

Rish said...

Anonymous do post comment with name next time, Trading is an Business and business says try to avoid losses .I am surprised that maruti went from 840 to below 800 you did not trail it you kept 675 sl throughout never allow a profitable trade go negative of course things don't go exactly the way we expect at time but still our aim should be to make profit.Always trail a profitable position
Regards Rish

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