with good fmcg agin making life high , this too is a candidate for the same ..
but !!!
as the rally was one way up , it should retrace back to 480 ..465 for fresh move around 500 and then to 520 oe even new life high
i will remain positionally bullish , but not foolish enough to buy at any price , will wait and watch to buy in zone 468 to 478 for 500 & new life...
5, Apr 2020 : It all depends upon how the chart reacts with the support line. Once it goes below the support line there is a good opportunity for shorting. If it bounces back then it is a clear indication to go for Long. The MACD indicator can be used along with this idea to confirm the price action.
This is the setup for Monday. I will keep you guys posted on this.
Marico Weekly Chart:
Tracking Price Movement for Cup formation.
If the price follows the estimated cup shape price movement
then good returns can be expected.
The 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.
Buy 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 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...
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.
