Maruti Suzuki a good technical bet for coming 15 days(Technical analysis Mumbai India Trading.)

Yesterday and today Nifty lost almost 180 points and during this sharp downtrend it is very difficult to give uptrend calls. But in our scan we have seen maruti to be a good bet in the coming 15 days and below are our reasons.

Reason No.1- The stock is taking support near the trendline. See the below image for the same. Also this support become significant because it’s a Inverted hammer confirmation.

Reason no.2- It has taken support with the decent volumes see the below image.

Reason No.3 - In downtrend the RSI is showing a positive sign, in short RSI price divergence.

So these three reasons makes us feel Maruti can have good momentum in the coming 15 days.

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