Positional Opportunity in Marico
Go Long above 492.55 for Targets of 510.6, and 528.65 with SL 474.5
Reasons to go Long:
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.381 Fibonacci level.
2. In addition to this there is a strong support zone (marked with Green color), from which the stock is taking support and moving up.
3. Also the stock gave Trendline breakout.
4. Our target is just below the resistance (marked with Red color).
Reasons to go Long:
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the all-time swing low (point A) to the all-time swing high (point B) then we see stock took support from the 0.381 Fibonacci level.
2. In addition to this there is a strong support zone (marked with Green color), from which the stock is taking support and moving up.
3. Also the stock gave Trendline breakout.
4. Our target is just below the resistance (marked with Red color).
Order cancelled
Did not triggered our Buy price
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.