Maruti Suzuki may hit Rs 4400-4450, says Ashish Chaturmohta

Ashish Chaturmohta of Fortune Group told CNBC-TV18, "Maruti Suzuki is clearly an outperformer in the auto space and even if you look at in terms of broader market perspectives. Clearly the stock has crossed all-time high with a very strong open interest addition. I will not be surprised to see Maruti crossing Rs 4,400-4,450 in coming days. Ideally on downside at Rs 4,000 we are seeing a lot of put writing also happening, so Rs 4,000-4,050 should act as a very strong support for the stock. On the upside, I think Rs 4,400-4,450 could be the potential target."

At 14:48 hrs Maruti Suzuki India was quoting at Rs 4,155.70, up Rs 107, or 2.64 percent. It has touched a 52-week high of Rs 4,182.