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Maruti Suzuki may slip to Rs 3300-3400, says Jai Bala

Jai Bala of Cashthechaos.com feels that Maruti Suzuki may slip to Rs 3300-3400.

February 06, 2016 / 12:27 IST
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Jai Bala of Cashthechaos.com told CNBC-TV18, "ICICI Bank and State Bank of India together are a problem for the market, that is what is holding back the market. We want both these stocks to pickup and once the banking index were to cross above 15700 it would be because both these stocks have stabilised. Both of them are still in a problem zone. It is looking like it is trying to stabilise but it is not yet picking up but we want that to happen for the overall health of the market."He further added, "Maruti Suzuki has had a stellar run from 2012. So, it is a very welcome correction. I think the correction is still ongoing. There is still little bit of downside left for the stock. It will come somewhere close to Rs 3300-3400 and stabilise somewhere around there. Then post that it will go to record highs but you have got to be patient for this stock to correct a bit more, don't get impatient and try to pull the trigger here. It has corrected quite a bit but still there is a small bit of downside to be done for the stock in the short term. I think that will be stabilising around Rs 3300-3400."

first published: Feb 6, 2016 12:27 pm

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