Home / Markets / News / Here's why Mehul Kothari is bullish on Maruti Suzuki, NOCIL

Here's why Mehul Kothari is bullish on Maruti Suzuki, NOCIL

According to the technical analyst from Anand Rathi, Maruti is witnessing a formation of double bottom near Rs 7,600 mark, while NOCIL has seen a breakout above Rs 265 level.

Markets, bulls, bears, stocks, trading, technicals, market technical, technical analysis

Premium

Mehul Kothari Mumbai

2 min read Last Updated : Jun 07 2022 | 7:49 AM IST

BUY

NOCIL

TARGET: Rs 290

STOP LOSS: Rs 250

Since Nov 2021, NOCIL started trading below Rs 265 mark and during this time frame it made several attempts to break above Rs 265. After failing for 2 – 3 times, the stock has finally managed to close above Rs 265 mark.

The price action was supported with heavy volumes which indicates that the breakout could be genuine. Thus, traders can accumulate the stock on dips in the range of Rs 266 - Rs 262 with a stop loss of Rs 250 for an upside target of Rs 290 in the coming 2 –

Topics : Buzzing stocks Market technicals Market trends Market Outlook stocks technical analysis technical charts Maruti Suzuki Auto stocks to watch out Stocks to buy

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in