ICICIdirect recommended Buy call on Maruti Suzuki in the range of Rs 3010-2990 for a target of Rs 3390 with a stop loss below Rs 2790.

Commenting on the technical rationale, the stock broker said, "The stock witnessed stronger and larger price rallies while secondary corrective declines have been shallow indicating the strong grip of bulls in the present scenario. The stock has registered a breakout past the two week consolidation range above Rs 2980 in today's session signaling conclusion of the temporary breather and resumption of the upward momentum."

"We believe it offers a good entry opportunity to ride the next up move towards Rs 3460 in the medium-term. The 123.6% Fibonacci extension of the May-July 2014 rally (Rs 1863 to Rs 2661) measured from the late July 2014 low of Rs 2476 projects upsides toward Rs 3460 levels," it added.

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