Sudarshan Sukhani of s2analytics.com is of the opinion that one can see lower levels in Maruti Suzuki India.
Sukhani told CNBC-TV18, "Maruti Suzuki India has also been favourite and I am assuming eventually it will go above Rs 2,000. However, the market currently is saying something else. Maruti has now made a fairly bearish pattern that suggests an intermediate top is coming in place. I do not know why this blue chip is doing this but that is not for me to ask. The trade is to go short on Maruti, lower levels are coming."
At 09:52 hrs Maruti Suzuki India was quoting at Rs 1,448.60, up Rs 8.85, or 0.61%. It has touched an intraday high of Rs 1,455.50 and an intraday low of Rs 1,441.45.
The share touched its 52-week high Rs 1,637.60 and 52-week low Rs 1,077.00 on 06 February, 2013 and 04 June, 2012, respectively. Currently, it is trading 11.54% below its 52-week high and 34.5% above its 52-week low. Market capitalisation stands at Rs 41,851.51 crore.