*Always Enter With good confirmation & Maintain proper Risk Reward.
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Marico is one of the big names in FMCG sector. Last week ended on a very bullish note for FMCG in general with HUL, Nestle, Brittania all being Nifty Top Performers.
Marico seems to have confirmed a clean breakout above a falling wedge with good volume. RSI, MACD and SCHT Indicators seem Bullish as well.
Stop Loss is kept at the bottom of our last day candle to...
Marico's price closed with good volumes and RSI above 60. That's a bullish closure. This momentum could continue in the next trading session also.
After falling off of the uptrend line. the price got corrected. Here we can see a bullish butterfly pattern on the chart, the demand zone is formed by the 1.414 and 1.618 fib retracements of the pattern.
Marico stock at the verge of BO level. Can take long entry above the price of 540 with SL 529 for the target price of 565. Wait for the stock price to restest at the support area . This would be sniper entry with good risk to reward trade. This is for your educational purpose only.
We can Trade Marico with good confirmation
Long entry (with good confirmation only) : Cmp
Tgt : 555
Sl : 523
>> Always Enter With good confirmation & Maintain proper Risk Reward.
******* Knowledge Purpose only ********
>> Visit My Ideas Page for Daily Stock Analysis & check my previous stock analysis how accurate they are for Swing and Intraday Trades.
The price had made an All-time high and then retested it and now been forming a slanting trendline and once it breaks then can give good upmove. One can add with SL 390 on WCB. There is no resistance so it can be a very wild ride.