Maruti Suzuki Multibagger stock moved by more than 110%!!

We published about Maruti Suzuki Ltd in our Jal Multibagger stock report and predicted the possibility of multi-bagger returns in the coming 1-2 years. Check out the below research we published on 12^th November 2020.  

This stock has managed to hold its gain and gave more than 110% returns in less than 5 years and made a lifetime high of 13680 levels.

Maruti Suzuki Monthly chart (Log Scale): Anticipated as on 12^th November 2020

Wave Analysis as on 12^th November 2020

Multi-bagger stock recommendation: Maruti Suzuki India Ltd

Buy Price – Buy at CMP 6800 and more on dips to 5800

Time Horizon –1-2 years

Investment – 5% of capital

Wave Analysis anticipated as on 12^th November 2020-

Nifty Auto index has shown a underperformance since 2018 and prices have corrected almost 60% of the up move in past 2 years. It is not often that we see such deep correction in auto space. Given the same Maruti has relatively outperformed within this sector. Also, this stock is in secular uptrend and so one can continue to use corrections as buying opportunity form long term perspective.

As per wave perspective, stock is moving in an impulsive manner and currently prices are in wave 4 of the impulse. The wave 4 is forming a double corrective pattern with Zigzag followed by the second set of correction that is ongoing. This second correction probably can be either a Flat or a Triangle. This indicates one minor push on downside is possible. But given the overall pattern and sharp recovery from the lows one can start accumulating this stock in staggered fashion. Any dips should be used as a buying opportunity. We expect a move on upside towards 12000 in form of impulse wave 5, once wave 4 is complete.

The 31-month Cycle is working extremely well on the stock and as you can see on the chart, many crucial lows have been formed on this cycle. Prices are now approaching towards this cycle over next few months which can provide opportunity to buy this stock more on dips towards 5800 levels.

In a nutshell, it is ideal time to start accumulating Maruti as we expect a rally in auto space once the market stabilizes. Buying can be done in staggered fashion. The long-term trend for Maruti looks bullish and prices might move towards 12000 levels as long as 3500 is protected on downside which can be used as stoploss.

Maruti Suzuki Weekly chart (Log Scale): Happened as on 19^th February 2025.

Target price - 12000 levels

Stop loss – 3500 levels

Happened as on 19^th February 2025: Maruti Suzuki performed in accordance with our expectations and has moved more than 110% within 5 years. The stock managed to deliver exceptional results and achieved our given targets and also surpassed it and made a lifetime high of 13680 levels in July 2024. Stock is currently quoting near 12700 levels. The overall up move has been strong with a higher high and higher low formation which keeps the Primary trend on the side of the bulls.

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