MARUTI UDYOG - WEEKLY CHART
CORRECTIVE WAVES EMERGING...

On weekly charts, Maruti completd its 5 Wave upside which began at 156 in July 03 atthe time of new listing and made the top at 991 which is the top of Wave 5 on October 06. Now this stock is geting into the Corrective Wave for the 156-991 rise in the form of A-B-C. The decline from 991 to 755 is the Wave A, but the decline from 991 to 755 is not over yet. A move above 845 will emerge the Wave B which will correct the Wave A. So in the little bit longer picture i bet the ongoing corrective wave will might truncate at somewhere near 670 and then we'll see the larger uptrend. 670 will be the bottom of Wave C.