Maruti seems to be making a topping formation with a double top at 4700 and declining momentum on the TTO weekly charts. With all favorable news priced in and worries on account of wage settlement the stock is likely to correct from the current levels.
UPDATE (October 5) : Maruti has corrected from Rs. 4594 to below Rs.
4400 or 4% post our advisory on October 1, in a single trading session
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