Date:04/01/2009 URL: http://www.thehindubusinessline.com/bline/iw/2009/01/04/stories/2009010450340904.htm

Back Maruti Suzuki

MUL too recovered from the trough recorded last Monday to end the week with 6 per cent gain.

Positive divergences apparent in the weekly oscillators imply that a medium-term trough could be forming in the stock. A move higher to Rs 636 or Rs 750 is possible once it breaks out higher. Traders can hold the stock with a stop at Rs 480. Subsequent supports are at Rs 465 and then Rs 440.

Key long-term support for the stock is at Rs 570 and it is hovering below this level since the last week of October 2008.

This could be a long-term base building effort. Risk-averse investors can wait for a close above Rs 650 before buying the stock.

Lokeshwarri S.K.