MARUTI has given a BO on weekly charts after being in consolidation phase for about a year. Formation on the charts looks like a breakout from Flag. Approx height of the flag is 1300 and long term investor / trader can buy here with price TGT of 2700 approx. keeping SL of 1126 on closing basis. There was also an opportunity for short term traders as per daily charts when it broke out of 1400 range, it is likely to see a sharp run up from here, one should buy if it comes into trading range somewhere closer to 1400 with SL of 1380. TGT : 1580>1715>all the way to 2700
Nifty and Bank Nifty has given a nice run up after the breakout. Nifty is now all set for new highs. Off-course we may see minor correction in coming days, but the trend is up for sure.
Happy Trading !
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