Maruti Suzuki India Limited (MARUTI) Stock - Complete Technical Analysis - Oct 04, 2024

Maruti Suzuki (MARUTI) Stock Analysis: Key Levels & Momentum Insights Will It Break 13K

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 (MARUTI) is currently trading at 12,606, reflecting a 7.85% drop from its 52-week high of 13,680 and a solid 29.45% rise from its 52-week low of 9,737. The stock has shown a slight pullback after a recent rally, as seen in the last five days of trading where it has failed to close above 13,500, indicating a possible resistance level around 13,500. The recent formation of a spinning top candlestick pattern suggests indecision in the market, highlighting a potential reversal or consolidation phase.

From a technical perspective, the Relative Strength Index (RSI) hovers near 49, indicating that the stock is neither overbought nor oversold, reflecting a neutral momentum. The MACD remains positive, suggesting that bullish momentum is still present but could be weakening. The ADX at 21 signals that the current trend lacks strength, further supporting the idea of consolidation in the near term.

The moving averages show that MARUTI is trading slightly below its 10-day Simple Moving Average (SMA), and the Exponential Moving Averages (EMAs) across 20, 50, and 100-day periods indicate potential support near the 12,60012,700 range. However, if the price breaks below this level, we may see a retest of the 12,400 zone.

The Awesome Oscillator shows weakening bullish momentum, while the Stochastic Oscillator suggests the stock is neither in overbought nor oversold territory, pointing to indecision. Traders should keep an eye on any volume spikes, as the Average True Range (ATR) suggests a moderate level of volatility, indicating that sharp price movements could occur.

Key support levels to watch include 12,400 and 12,000, while resistance levels are seen near 13,000 and 13,500. If MARUTI breaks past the 13,000 mark with strong volume, it could be poised for another upward push, but any downward pressure could bring it back to test the 12,000 support level.

In conclusion, traders should watch for signs of either a breakout above 13,000 or a potential reversal to lower support levels, with technical indicators pointing to a neutral to slightly bearish outlook in the short term.