Buy Marico (cash) above 474 with SL 471 for target 480.75
Possible double bottom
RR ratio = 1:2.3
Timeframe - 8-10 days maximum
If it comes down to 469 before crossing 474 then buy at 369 with SL 466.50 for same target 481 (Daily Demand zone formed on 17 June 22)
RR ratio = 1:3.7
Timeframe : maximum 10 -12 days
Adjust future levels accordingly if anyone wants to trade in future.
May not be suitable for option buyers as its view of 8-10 days and that may cause premium decay if it consolidates for2-3 days
Possible double bottom
RR ratio = 1:2.3
Timeframe - 8-10 days maximum
If it comes down to 469 before crossing 474 then buy at 369 with SL 466.50 for same target 481 (Daily Demand zone formed on 17 June 22)
RR ratio = 1:3.7
Timeframe : maximum 10 -12 days
Adjust future levels accordingly if anyone wants to trade in future.
May not be suitable for option buyers as its view of 8-10 days and that may cause premium decay if it consolidates for2-3 days