Maruti Suzuki Share Price Target: Stock Radar | Maruti Suzuki fell more than 16%

Maruti Suzuki India Ltd, part of the Sensex and Nifty 50, which has risen just over 12 per cent in one year, has fallen more than 16 per cent from its recent 52-week high, but signs of reversal in the chart indicate that the bulls may return.

In 2022 the stock is still on a downward trend. This is down more than 16 per cent from the 52-week high of Rs 9,022 recorded on May 17. The stock formed a death cross on the May 16 chart suggesting further selling pressure.

However, the stock appears to be showing signs of a reversal, and traders may look to the stock above Rs 7,700 for a target of Rs 8,000-8,200, experts advise.



Auto Major with a market capitalization of Rs 2.2 lakh crore bounced back after hitting a 52-week low of Rs 6,540 in March 2022 but has remained volatile ever since.

Maruti Suzuki 18 MayET Contributors

The stock is trading above 5, 10, 20, and 200-DMA, but below 50 and 100-DMA. Relative Strength Index (RSI) mid-range. RSI stands at 50.4. RSIs below 30 are considered over-sold and over 70s are considered over-bought. The RSI compares the average gain and the average loss level of security to draw estimates about its strengths and weaknesses over a predetermined period. Read more about RSI here.

Stock Radar: Buy Maruti Suzuki only above Rs 7700: Vaishali Parekh

Maruti Suzuki has made a decent correction between the 8000 and 7000 levels and has a good recovery near the 0.618% retracement level, which is close to the 7100 level, “said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladhar Pvt. Ltd.

“The stock has made a modest correction from Rs 8,000 to Rs 7,000 and has made a good recovery near the 0.618% retracement level, which is close to the Rs 7,100 level,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladhar Pvt. Ltd. Ltd., Dr.

“The daily RSI indicator reversed the trend of buying signals when volume was above average. Above Rs 7,700, the rally should stop at Rs 8,000 and Rs 8,200, ”he added.

(Disclaimer: The recommendations, suggestions, opinions and opinions offered by the experts are their own. These do not represent the views of the Economic Times)

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