Short Maruti Suzuki below Rs 1450; target Rs 1360: Bothra

One can short Maruti Suzuki India below Rs 1450 for the target of Rs 1360 with a stop loss of Rs 1480, says Kunal Bothra, Sr Technical Analyst, LKP.

Bothra told CNBC-TV18, "Other than frontline stocks like Bajaj Auto, Tata Motors, etc which have been trending, Maruti Suzuki India after showing a very good breakout also it is more or less consolidating. My fear is if it breaks Rs 1450 in the next couple of days I think that could set a very strong set of downtrend for Maruti. I would not want to trade Maruti at this point of time. I would probably wait for a break of Rs 1450. If that happens one can look for a short keeping a target of Rs 1360 on Maruti with a stop loss of Rs 1480." Disclosure: I do not have any personal holdings in any of the stocks but at LKP we keep recommending these stocks to our clients.