MARICO
Marico & Wipro ShortsBoth have similar structure and rejected off HTF resistance. Break of Pinbars with volume would resume bearish continuation.
Marico - Weekly Chart - Price Movement for Cup formationMarico Weekly Chart:
Tracking Price Movement for Cup formation.
If the price follows the estimated cup shape price movement
then good returns can be expected.
Marico: Bearish on all Time FrameMarico: Bearish on all Time Frame
Expected lower level identified in chart
Marico AB=CD Pattern
Elliot Wave
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The stock has reached the last stand for buyersThe stock has reached the last stand for buyers, any close below 290 and sustenance below it will push the stock into bear grip. The RSI is oversold and it can remain in oversold condition in bearish condition for extended period. Any pullback may provide shorting opportunity if weakness persists.
MARICO ON LONG GOOD TO INVESTMENT AT THIS POINTBuy btw 299-308 level and hold for short term target of 340, once any of the weekly candle closes above 340 you can expect medium term target of 440... you can hit thumps up button if you like this post and you want any future update and learning just click on follow button..
Marico and Option of it.Marico can create maximum an excess as 325, therefore buy-in steps, not a bad decision.
For example,
1st) Buy Marico @330.5, 50% using of margin from deciding to trade.
2nd) Trade, buy 325 nearby with use of remain 50% margin from the decided margin.
Best strike price to trade on Marico as per the above steps.
345 Call of marico (CMP 5.9)
345 Call of marico
Marico Trend Analysis !!TREND ANALYSIS & TRADE SETUP
Possible start of Uptrend.
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
MARICO Long TradeThis is follow up on my FMCG post
Marico looks good for 370 level. Good risk reward trade.
CNXFMCG looks positiveFMCG sector has been a laggard for lately, It's slightly negatively correlated with the benchmark Nifty.
It seems to have broken out of the downward channel and could shoot up quickly.
Tata Global, Godrej Consumer Products and Marico are some prominent stocks.
I particularly like Marico for this set up. Posting the Marico one soon.
In addition, if the negative correlation holds up, Nifty may have its upside capped at the very least and more likely some correction in near future.
Let's find the number to enter in the MARICO.The thing to note is that the stock is having a strong channel that can be seen by the chart up-trend and down-trend follows tightly.
Another thing is to be noted: WHen this stock takes a turn, the big move creates on the single day of secession. So far we have not seen any such thing/big move on a single day o trading.
As per the daily chart, this stock can test 320 nearby. This is the meaning that stock has remained one sharp fall .
Almost all the major resistances and supports are mentioned in the chart. if you look carefully, you will realize that all majors resistance became stronger support.
As per above statement, (c) has already taken as a support 334.2.
Expected investors entry between 228-23 [/b ]2 range for the 357-361 target on this stock.
Primary trend is up and we want to move the direction of primary trend therefore, buying on this stock is worthful.
Marico Trend Reversal?The weekly price is at a strong support now. Momentum of bears seems to be losing.
In the Daily, we see a Bullish Divergence with the RSI on 13 Dec and 16 Dec. In the 75 min, TL is broken, but not with conviction.
But, since RSI is oversold everywhere, I would love to go long with SL around 326. Whether the trend reverses or not, we can expect some gains here.
