I have a negative bias on the FMCG sector this week. Marico has been in a strong uptrend on the 15 min chart, using the 200 Bollinger Bands, its visible how the price is moving very very close to the upper end of the Bollinger range.
The strategy is to capture the decline from the current highs. The previous high is the first target at 351 and second target at...
INVERSE head and shoulders
+ cup and handle + trendline
+ multiple resistance support
a good move upto 350 /355 to the least possible as per charts thus with stop at 300/302 can go long for 250 ++ targets
Marico today tested the resistance at the 350 with a high price of 350 but closed at a loss of 1.5 even after a gap up opening. Given the current comparisons that the stock is facing with the market capitalization of Ruchi Soya, speculation in the market might have been possible. The total movement of only 4.5 which is a mere 0.012% of the opening price and a...
Levels are mentioned on chart for Swing trading.
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Early entry: 340
SL: 325
Target: 370
RR: 2.0
Thank you. Happy Trading!!!
Best...
the stock will remain BULLISH according to me as:
1) The stock has passed a major resistance with considerable volume.
2) Its forming Elliott impulse wave pattern 12345.
3) Its following the previous price action as highlighted.
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Marico is showing head and shoulder bottom. A very good signal to buy above the nearest resistance.
Buy above 331 and target 8%.
Stoploss at- 320
I will appreciate if you will let me know your thoughts in comments below
Expecting big upmove from CMP on Breakout from the current range.
Volume declining
On Daily time frame its forming H&S Pattern
Can enter with 15min candle breakupside...
