Maruti Suzuki 09.07.2018 02:40PM

Maruti Suzuki Ind stock’s technical chart has taken the formation of “Megaphone chart” pattern in a daily time frame. As the last few sessions’ been bullish in trend ending up near the pattern’s resistance line, where a break above the same would push the market furthermore on the same trend. Such a break will increase the possibility of the contract rallying towards 9600-9800 in the upcoming week. Although an alternative scenario indicates that if the key resistance holds too strong near 9400, then it might retest the same and revise to bearish momentum. A pushback from the same level can drag the contract towards 9200-9100 levels. Key support holds at 9100.

Technical Chart:

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