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Maruti Udyog Limited closed the week on a flat note after fluctuating between Rs 490 and Rs 550 over the week.

A short-term trough appears to have been formed at Rs 468 and this up-trend can continue to take the stock higher to Rs 580 again.

Short-term traders should watch out for a downward reversal from this level. If this level is surpassed, the next targets are Rs 611 and Rs 635.

The medium term view for MUL remains neutral.

The stock has key long-term support at Rs 560 and it has been vacillating around this level over the last five weeks.

An upward reversal from here can take the stock higher to Rs 750 again.

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