Marico: Heading towards Resistance

This is a potential buy setup in this uptrend with SL 338.75 and targets 379 or higher towards 400 resistance zone .

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Comment: One of my old educational posts :)

Comment: Caution !!! Results today.
Comment: 360 has been a resistance. So assuming that up trend is still intact, there could be two possible setups. Buy if price holds at A with small stop loss. OR let the stock break 360, pullback at B and then buy with a stop below the swing low.

If stock does not hold at A, then there is no buy.

Comment: Scenario B is working

Comment: 370 has become a hurdle. But higher lows are still intact. Not a bad weekly close as well.

Comment: Trend is getting weaker.. stop to breakeven.
Trade closed manually: at 376.5

JJ Singh
Full TIme Trader/Investor
Moderator, TradingView

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