Maruti Suzuki India Limited (MARUTI) Stock - Complete Technical Analysis - Dec 23, 2024

Maruti Suzuki Stock Analysis: Is the Downtrend Over Key Levels to Watch Technical Insights for Tr

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Maruti Suzuki India Limited's stock is experiencing notable volatility, with the price trading at 10,901.05, which is significantly below its 52-week high. Over the past few days, the stock has shown a pattern of consolidation with a Bearish Harami indicating potential for further downside. On the technical side, the stock has several indicators pointing towards weak market conditions. The Relative Strength Index (RSI) is at a low level, signaling that the stock is oversold and could be poised for a short-term recovery. Meanwhile, the MACD remains below its signal line, reinforcing the ongoing bearish trend. Momentum is negative, suggesting that the downward pressure could persist in the near term.

The stocks Average Directional Index (ADX) shows a strong downtrend with a value of 27.38. Volatility remains high, as seen with the ATR, and this suggests that the stock could see significant price fluctuations in the near term. The Exponential and Simple Moving Averages also show that the stock is below most key moving averages, indicating bearish sentiment. However, there could be some upside potential if the stock manages to hold its ground around key support levels, which include 10,723 and 10,372. Resistance is likely near 11,472 and 11,868. Traders should remain cautious, with careful monitoring of the stocks movement around these critical levels for signs of a reversal.