Maruti Stock Price Technical Analysis 09.06.2018 10:07AM

Maruti stock’s technical chart has taken the formation of “Ascending broadening wedge” pattern in a daily time frame. As we can see the last few sessions’ been bullish in trend and has broken out an interim resistance trend line inside the channel itself.As per the technical aspects, the market is expected to continue to rally on the same trend. Hopefully, the positive rally could be testing all the way through 9500-10000 levels in the upcoming sessions. Although an alternative scenario indicates that if the market been able to breaks below a key support holding near 8500, then it might have a chance to turn on a short-term bearish momentum once again. Key resistance holds at 10000.

Technical Chart:

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