Maruti completed a bull phase with supply seen in the 8450 - 10000 rectangle zone.
The scrip appears to be breaking out of a year long downward channel move on the back of rising demand as seen in the volume with reasonable accumulation.
Stop Loss: 6650 Target: 8450
Nota
Trend appears to be intact.
Nota
Stop Loss should now be trailed up to 7000.
Nota
Bullish trend appears to be intact. Stock stayed strong after the announcement of the monthly sales figures.
Nota
Selling pressure was followed by a short term support at breakout levels. One could imply that the buyers at those levels are ready to defend their long positions.
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