ReviveTraders

Marico | Resistance Breakout & Retest The same level 🎯

Long
ReviveTraders Updated   
NSE:MARICO   MARICO LTD
β­•Positional Trading opportunity ! Weekly Chart Alert !!!β­•

--Buy above =402.10 or CMP
--Target = 499.30
--Stop-loss = 379
--Lot Size = 2000
--R:R = 4.3
--Expected Profit = 1,94,000β‚Ή per lot (24 % )
--Expected Holding = 2-3 months only
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β­•Technical Reasons to trade or Strategy applied :- β­•

1) Stock broke the strong resistance
2) retracement is also done
3) Target is based on fib. trend
4) volume is also more than enough in breakout
5) No chance of fake Breakout .as it a weekly chart
6) rejection at support level i.e high wicks ..bullish candlestick pattern after retracement


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Comment:
Trade closed manually:
Marico is not going good ....EXIT in little profit or HOLD with strict SL = 392 ( modified )

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