In the previous session, Market had a corrective move with a negative bias throughout the day. The Nifty Index saw a gap down opening in the morning session due to global weakness and gradually extended losses as the day progressed. However, in the last half we saw some mild recovery from lower levels in the market. The Index formed a Bearish candle on the chart and closed with a net loss of 218 points. Due to global uncertainties a cautious approach is advised for the next trading day.

Look at the below research report of ‘Stocks to Buy for – Tuesday, April 26, 2022’ before the market opens.

Maruti Suzuki India Ltd

NSE :MARUTI   BSE :532500  Sector : Automobile

We have shown a daily chart of Maruti Suzuki India Ltd. As per chart analysis, Ichimoku Cloud is acting as a very good support for the stock. We can see that prices have formed a ‘Double Bottom pattern’. Stock is facing hurdles near 8000 level from the past three days. We have not seen any closing above this zone. Hence this level has now become an important resistance for the stock. The Parabolic dots are moving below the prices which indicates that stock is now in uptrend. This indicator is most useful in terms of Entry and Exit levels in any stocks for trading purposes. In addition, the Relative Strength Index (RSI) on the daily chart is 58.26 which indicates bullishness.

In short, the trend for Maruti Suzuki India Ltd. looks to be positive for now. Due to volatility in the market, positions can be created above previous day’s high near 8000 levels, which can take prices towards 8200/8510 levels. On the other side, the level of 7685 will act as key support for the stock.

Check More Analysis on MARUTI at: Maruti Suzuki India Ltd