Your Stock portfolio. Long-term outlook bullish for Maruti Suzuki

Here are answers to readers’ queries on the performance of their stock holdings.

What are the short, medium and long-term targets for Maruti Suzuki stock?

Srinivasulu K

Maruti Suzuki India (₹9,321.3): Both the long and medium-term trends are up for the stock of Maruti Suzuki India. However, the short-term trend has been down since recording a new high at ₹10,000 on December 20, 2017. This corrective decline can find support at around ₹9,000 in the coming weeks. Next significant support is placed at ₹8,500 levels. As long as the stock trades above this base level, the medium-term uptrend will remain intact. Investors with a short to medium-term perspective can wait and buy at lower levels with a stop-loss placed at ₹8,300 levels.

Having said that, if the stock decisively tumbles below the significant support as well as trend-deciding level of ₹8,500, the stock can decline to ₹8,300 and ₹8,000 levels. Such a decline will provide buying opportunity for long-term investors. Key resistances for the stock are placed at ₹9,500 and ₹9,630 levels. Strong rally above ₹9,800 is needed to reinforce the bullish momentum and take the stock higher to ₹10,000 once again. Further breakthrough of the key medium-term as well as psychological resistance level of ₹10,000 can push the stock northwards to ₹10,200 in the medium to long term. Investors with a long-term perspective can hold the stock with a long-term at ₹7,300.

What is the technical outlook for the stock of Jammu & Kashmir Bank?

Kannan

Jammu & Kashmir Bank (₹76.2): The long-term trend is down for the stock of Jammu & Kashmir Bank. Following a corrective up-move in the first half of the year 2017, the stock encountered a key resistance at ₹95 in June 2017. Since then, the stock has been in an intermediate-term downtrend. Key resistance at ₹85 capped the upside for the stock in last October and the stock continued to trend downwards. Last week, the stock plummeted 5 per cent, breaching an immediate support at ₹78 as well as the 200-day moving average. The stock can extend the downtrend and test support at ₹72 in the short term. Further slump below this base can pull the stock down to ₹70 and then to ₹66 levels in the short to medium term. Significant resistance in the band between ₹80 and ₹82 can limit the upside in the stock. However, a decisive rally above ₹82 can take the stock higher to ₹85. Investors with a long-term view can stay invested with a stop-loss at ₹69.

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