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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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..
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...
Date: 06 July 2019
Marico (CMP: 378.80) has the quarterly result on 01 Aug 2019.
Buy Call.
Ascending Triangle pattern formation taking place in Marico.
The next candle has to close above 380 and sustain.
Target: T1-390; T2-400
Stop Loss: 368
