Trading ideas (Time period: 1-3 days)

Buy and Hod Maruti 1320-40 hold for Target 1390 plus The stock has been consolidating in a range between the levels of Rs1,310-1370 for last two weeks. The stock is witnessing side-ways movement uptrend and is stalling at the upper-end of the trading range, which is a bullish sign. 200-DMA has acted as a strong support for the stock since first week of February 2010. A break above Rs1,342 could lead to a fresh directional move in the same direction. The stock has closed above all its key daily moving averages. Keeping in mind the above-mentioned evidences, we recommend high risk traders to buy the stock between the range of 1320-1340 with a stop loss of Rs1300 for target of Rs1380 and Rs1,390 plus.