1170-1200 major support for Maruti: Rajat Bose

What is the call on Maruti Suzuki?

Rajat Bose: Maruti if it were to really fall below 1200 and sustain there, then it would actually become a case of fresh weakness. Otherwise, it is more in line with that very small range bound trading activity that was going on and if we have to consider that this event that has taken place, a strike in that plant leading to loss of production, if that is that great then market would have taken a far demur view and the stock would have gone down below 1200 if not 1170. 1170 to about 1120 is the major support area for Maruti. At the same time, we need to say that the earlier upward momentum that was seen in Maruti is mostly negative and it would come back once again if Maruti manages to sustain above 1250-1260 resistance zone.