Bullish bells rings for Maruti Suzuki India Ltd

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The India’s leading car manufacturer is one of the top performer of today’s trading session as the company’s bearish streak has ended with a rise in the price of share from Rs.6163.05 to Rs.6283.10. The bearish streak of the company’s stock price started on 5th February 2020 which resulted in the falling of the stock price around 12% over the previous trading sessions.
But the following graph shows that the bearish trend has ended and for the past two trading sessions, the company’s share price has been rising and outperforming its competitors. The red cloud has also ended with the bearish trend which paved way for the formation of green cloud along with the bullish trend for the stock. Also the chikou span has been showing an upward trend and high chances of the base and conversion line to intersect which would result in the upward trend for the stock.


The Moving average envelope of the stock is showing an upward trend while the candlesticks are formed past the envelope, but the bullish trend of the company’s stock will help to raise the prices and reach its resistance level. The performance of the stock in past two trading sessions has indicated that the trend has changed and there are chances for making profit through a measured support and resistance level which would help in controlling the losses faced by the volatility of the stock.

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