Maruti Suzuki India Limited (MARUTI) Stock - Complete Technical Analysis - Nov 05, 2024

Maruti Suzuki Technical Analysis: Is a Price Reversal Coming NSE Insights

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 is facing selling pressure as indicated by the recent closing price of 11,170, which is 18.35% below the recent peak. The price action shows a pattern of lower highs and lower lows, confirming a downtrend. Notably, the last trading session saw the stock opening at 11,042 and reaching a high of 11,275, followed by a close at 11,170, highlighting the resistance level around 11,275. The RSI suggests the stock is nearing oversold levels, while the Stochastic indicates a similar trend, hinting at a possible reversal. Volatility is evident with an ATR suggesting increasing swings. A focus on support at 11,011 and lower levels is essential, as these could serve as potential buy zones if the stock shows signs of stabilization. Additionally, if the stock can break through the 11,275 resistance convincingly, we might see a bullish reversal. Traders should watch for sudden price movements and utilize stop-loss strategies to manage risk effectively.