NSE:MARICO   MARICO LTD
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1
SR plotted
Comment: After a completely volatile day it did manage to go down and touch the blue line ....

Comments

Couldnt understand the chart,, where it is heading
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gregferns MiriampalliVenkataramana
@MiriampalliVenkataramana,

Hi...

This chart was drawn in response to another person's query @anbulina ..... see below .......

It was a basic ABCD pattern which was supposed to reverse from point D. --- Mind you i am learning here ....

It did reverse from that point after struggling to go upwards.... Now it has reached a point which FOR ME is a no trade zone.
If you see along the rectangle area somewhere in june (from 4th june to 11th june approx) it has struggled a lot at this area.... to go upwards... it was a resistance. again in July same thing... Then it broke the resitstance which became weak.... Now that same resistance has turned into support....

I expect there to be a reversal from here or maybe even a short pull back.... if it pulls back it will defintely go towards 382.8 zone... and back down or maybe straight away go down to 372 levels...
Nobody knows... MARKET RULES SUPREME....

So my suggestion would be to wait on watch on Monday... AS it is this monday is expected to be volatile so maybe the reversal will take place....

If you trade then do trade cautiously....

+1 Reply
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