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Maruti struggled to surpass the resistance at Rs 512 in the early part of the week and plunged lower to Rs 465 on Friday. But the sharp recovery in the second half of Friday’s session implies that the short-term trend continues to be positive. The stock will continue to face resistance at Rs 510 and Rs 525. But once this zone is crossed, a move higher to Rs 542 is possible.

The medium-term view on the stock stays neutral and a sideways move between Rs 450 and Rs 750 is the preferred view over this period. Since the stock is reversing from the lower boundary of this range, swing traders can buy the stock in declines with a stop at Rs 440.

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