Dear All,
It looks like Maruti is on the verge of a multi year trend break. As per the chart below Maruti is testing the 2009-10 trendline.
Keep an eye on this stock which is currently trading around 1450 levels for a break above 1500 and with the following targets:
3 months - 1600
6-9 months - 1710
12 - 15months - 1800
Once this stock crosses the 1650 levels there will be several new highs this stock could potentially create.
Technical traders will notice a possible cup and saucer(2011-12) or head and shoulder (mid 2009 - 2012) or a symmetric triangle (2009 start to 2012) pattern possibly being broken out.
Do keep an eye on this stock for a potential multi-bagger opportunity.
Thanks,
Dewang K. Mehta
DENIP Consultants Pvt. Ltd.
Disclaimer Post applies
It looks like Maruti is on the verge of a multi year trend break. As per the chart below Maruti is testing the 2009-10 trendline.
Keep an eye on this stock which is currently trading around 1450 levels for a break above 1500 and with the following targets:
3 months - 1600
6-9 months - 1710
12 - 15months - 1800
Once this stock crosses the 1650 levels there will be several new highs this stock could potentially create.
Technical traders will notice a possible cup and saucer(2011-12) or head and shoulder (mid 2009 - 2012) or a symmetric triangle (2009 start to 2012) pattern possibly being broken out.
Do keep an eye on this stock for a potential multi-bagger opportunity.
Thanks,
Dewang K. Mehta
DENIP Consultants Pvt. Ltd.
Disclaimer Post applies
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