Saturday, 26 January 2013

MARUTI UDYOG WEEKLY CHART ANALYSIS.STOCK HEADING TOWARD 1730/1920 IN THE COMING MONTHS?. CMP 1600

The stock of Maruti Udyog appears to be in the 3rd wave of intermediate degree and seems poised for targets of 1730 and then 1920 in the coming months. The current market price is 1600. The stock has broken out of a complex correction (W-X-Y) and is trending higher. A move below 1380 will cancel our bullish bias. Moving average analysis also supports the uptrend as the 50 day SMA (blue) is above the 200 DMA(Red).

Maruti heading toward 1730/1920 levels in bullish 3rd wave?















Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours

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