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The recent price action helped the stock the breakout from a Pennant formation on the weekly charts. Pennant is similar to a symmetrical triangle but with few differences.

The stock traded at a P/E multiple of 60.35, while the price-to-book value ratio stood at 44.25.

It is often seen that investors – especially those who are just stepping into the markets – chop and change their strategy during a recession. In fact, some are so affected by the ‘bad’ news that they decide not to take the plunge at all.

As of 31-Dec-2022, promoters held 45.25 per cent stake in the company, while FIIs held 19.3 per cent and domestic institutional investors had 18.04 per cent.

The Relative Strength Index of the stock stood at 33.57 on Wednesday.

The stock quoted a 52-week high of Rs 6520.0 and a 52-week low of Rs 3733.25.

In the NSE list of stocks with a market cap of over Rs 250 crore, four stocks crossed their previous five-year high value at the close on January 24. >> For more such web stories click on the ET icon below

​​Maruti Suzuki India, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 265159.84 Crore) operating in Auto sector.

“The 18200 Nifty has become a major resistance level which is keeping the Nifty in the narrow band of 17800-18200. Now, it appears that a major trigger is necessary to break this range either on the upside or the downside,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

India VIX was down by 0.28% from 14.08 to 13.40 levels on Tuesday. Volatility has been hovering at lower levels from the last nine weeks and supporting the bulls to hold the overall command.