Maruti Suzuki India Limited (MARUTI) Stock - Complete Technical Analysis - Nov 18, 2024

"Maruti Suzuki Stock Analysis - Key Levels & Trends You Need to Know Technical 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 India Limited (MARUTI) Stock Technical Review

Maruti Suzuki India Limited (MARUTI) stock is trading at 11,093.95, sitting 18.90% below its 52-week high. The stock shows mixed technical signals, with some short-term recovery potential despite a longer-term bearish trend.

Price Action and Trends: MARUTI has recently seen fluctuating price action, with a significant surge on Nov-18, 2024, closing at 11,093.95. Despite a pullback from previous highs, the stock is maintaining a steady range between 10,800 and 11,500 in the short term. The trend shows a slight recovery, but overall, the stock is still below its key moving averages.

Chart Patterns:

Bullish Engulfing: A Bullish Engulfing pattern indicates the potential for an upward reversal in the short term.

Morning Star: A Morning Star pattern from Nov-13 is another bullish indicator that could signal an upward trend if confirmed by higher volume.

Support & Resistance:

The immediate support for the stock lies around the 10,800-10,900 levels. A breakdown below these levels could indicate further downside.

On the upside, the resistance zone around 11,400-11,500 is crucial for any potential breakout or rally.

Momentum Indicators:

RSI: The Relative Strength Index (RSI) is currently in the neutral zone, suggesting potential for a reversal or continued consolidation.

MACD: The MACD is in negative territory, which indicates the stock might be in a short-term downtrend, but with a possibility for reversal if the stock breaks resistance.

Volatility: The stock's volatility is high as indicated by the ATR, suggesting traders should be cautious of price swings. With high volatility and the potential for reversals, short-term traders should monitor for potential breakout opportunities at key support and resistance levels.

Outlook: The stock has the potential to see an upside breakout if it moves past the resistance levels of 11,400-11,500, driven by bullish chart patterns. However, caution is advised as the overall trend remains bearish, and the stock is below its moving averages.