Positional Opportunity in Marico

Nimish_Ghagare Updated   
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).
Order cancelled:
Did not triggered our Buy price

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