The stock is trading in a downward sloping parallel channel since the last 6 months and now after touching and holding the lower end of parallel channel during the recent fall in markets, the stock is poised for an upmove towards the upper end of channel. There are two scenarios to get into stock.
1) For Traders: Buy Maruti above 1300 with a stop of 1375 and look for targets 1326/1345.
2) For Short term players: Buy Maruti at current levels of 1300 with a stop loss of 1250 on closing basis and look for targets of 1350/1380/1400/1440 in near term.
Stock View: Hoteleela
Even when markets were correcting sharply in the last few days, the stock stood its ground around 48-50 levels and now eventually is looking good for a breakout. Buy Hoteleela above 51 with a stoploss of 49 on closing basis and look for targets of 53/55.
Have a nice trading day
Regards
Ankit
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