Darling of the investors over period of last two years Maruti Udyog limited. It has risen from around Rs.1000 levels to around Rs.4700 during last two to three years. The techncials are indicating that the up move might be maturing and it might turn down in coming weeks it has till a new high is made we can expect that the stock is headed down wards. It made a high of 4700 in august 2015 and then fell 4100 levels and then has risen again to 4700 levels, here the perfect technical top formation is indicated by volumes. the rise from 4100 to 4700 has highest volumes( highest in rise from 1000 to 4700) and this highest volumes have failed to take it upwards or a new high and sustain there which is a classical double top. The highest volumes suggest that the informed investors have got out of the stock in the last rise and they have now much interest in the stock. So now till 4700 is successfully taken out and sustained above it we can expect maruti might have topped out and we can expect it to to move towards 3800 and then 3200 levels will it go there? if 4700 is not taken out we can expect it to atleast correct it to 3800 but the best would be 3200. 

Mahiidar M
Enjoying Life
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