Marico - approaching long term moving average
Marico
Price are just above weekly trend line and RSI just above it's support and moving towards oversold zone on weekly chart
Prices have broken mid term moving average and daily trend line, making 370 - 380 as supply zone which can be clearly seen in daily chart.
Bullish Shark pattern observed with PRZ btn 330 - 316. Also this zone is area of long term moving average. If price happen to test this zone and long-term moving average this shall be happening after almost 10 yrs, last test for long term moving average was around 2009.
Looking at consumption story and company fundamental this could be good time to add if protfolio for decent return in long term.
Consultant ur financial advisor before taking any investment decisions
Price are just above weekly trend line and RSI just above it's support and moving towards oversold zone on weekly chart
Prices have broken mid term moving average and daily trend line, making 370 - 380 as supply zone which can be clearly seen in daily chart.
Bullish Shark pattern observed with PRZ btn 330 - 316. Also this zone is area of long term moving average. If price happen to test this zone and long-term moving average this shall be happening after almost 10 yrs, last test for long term moving average was around 2009.
Looking at consumption story and company fundamental this could be good time to add if protfolio for decent return in long term.
Consultant ur financial advisor before taking any investment decisions
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