Want a piece of Maruti Suzuki? Experts say buy shares of this bluechip
Maruti Suzuki shares have been tagged as bullish from both fundamental and technical perspective and its quarterly results have further fuelled sentiments on Dalal Street.
Maruti Suzuki shares are expected to show an upward trend both in short-term and in the long term, market experts are saying. The Dalal Street experts are of the opinion that quarterly results may not have been as per market expectations, but the company's fundamentals are still very strong. They are also saying that in the coming one to two trade sessions the auto major may show some correction and touch around Rs 6,600 per stock levels from its current price of Rs 6,680. They suggest stock market investors to adopt 'buy on dips' strategy in regard to the Maruti Suzuki share price for the short-term target of Rs 8,000 per stock levels. This means that if a stock market investor decides to go with the market expert's opinions s/he can expect to register around 20 per cent return in two to three months.
Speaking on the fundamentals supporting the bulls in regard to the Maruti Suzuki share price at the India stock market Prakash Pandey, Head of Research at Fairwealth Securities said, "The Maruti Suzuki quarterly results are in sync with the market expectations but it will have little effect on the fundamentals of the auto company. We may witness some correction in the bluechip shares of Maruti Suzuki and the scrip may further make a dip of near Rs 100 to Rs 150 making an ideal buying position for the stock market investors." He said that a stock market investor can take a buy position in the counter at around Rs 6,600 per stock levels for the short-term target of Rs 7,200 per Maruti Suzuki counter.
On his suggestion to the stock market investors in regard to the Maruti Suzuki shares Pandey said, "Currently, the Maruti Suzuki shares are oscillating around Rs 6,680/stock levels and I am expecting some more correction into the banking scrip as the market is expected feel some more profit booking in next one to two sessions. So, I would recommend stock market investors to take buy position in the Maruti Suzuki shares in between Rs 6,500-6,600/stock levels for the short-term target of Rs 7,200 maintaining stop-loss at Rs 6,350/stock levels."
Asked about the technicals of the Maruti Suzuki share price Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Technically, the Maruti Suzuki share price is in rising trend line. Any correction in the counter should be taken as a buying opportunity rather getting panic by the dip at Maruti Suzuki share price. In the short-term perspective, the counter seems bullish but in coming to few trading sessions, we can witness some correction in the auto major. I suggest stock market investors adopt buy on dips strategy in regard to Maruti Suzuki share price." On his suggestion to the stock market investors in regard to Maruti Suzuki share price Singre said, "An investor can take a buy position in the Maruti Suzuki share price at around Rs 6,600 per stock levels taking stop loss at Rs 6,500 for the short-term target of Rs 8,000 per stock levels."
Therefore, a stock market investor can think of logging up to 20 per cent profit on his or her investment in the Maruti Suzuki shares in the short-term period.