Marico has been been taking support near 520 levels in the recent past and has given a good breakout on 17th Nov of the short term wedge pattern it formed. Also it is trading above 200 MA and all these factors are suggesting a good potential upside in Marico with SL of 505/- on the closing basis.
Trend - Negative
If the price sustains below 541.40 then it could see the levels of 525 and then 510
The price gives a breakdown of 541.40 which is a 38.20% Fib retracement level.
A strong bearish crossover near an important level of 28.60% (Fib retracement).
The breakdown of the Bollinger band
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📊 Details
Marico Limited is one of India's leading consumer goods companies operating in global beauty and wellness categories. It is present in over 25 countries across emerging markets of Asia and Africa. It nurtures leading brands across categories of hair care, skin care, edible oils, healthy foods, male grooming and fabric care.
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MARICO :- On the daily time frame, the stock has tried to give a breakout by hitting the multiple time resistance, if we get a breakout, we may see an upside moment.
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As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until...
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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March is at resistance and has been rejected. it has formed a head and shoulders in the Daily TF.
All the analysis and levels are only for educational purpose
Marico has given breakout forming a triangle pattern on 1W timeframe with above average volumes. The trade offers favourable risk reward ratio. Follow proper stop loss and target.
Marico Is still Side ways Zone
i Want Investing in this Stock is Waste of money and time
Marico operates in Beauty and Wellness segment in Hair Care, Skin care, Healthcare and Male Grooming categories across India and outside India. More than 90% of the Group’s turnover comes from categories in which Marico enjoys No. 1 or No. 2 position.
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Marico Limited is an Indian multinational consumer goods company providing consumer products and services in the areas of health, beauty and wellness. With its headquarters in Mumbai, Marico is present in over 25 countries across Asia and Africa.
If marico is able to close above 521 with higher high and higher low , it can be long with suitable SL.
*Not a trading or investment idea... Just a guess 😉.
Discuss with your financial adviser.
