Marico - Looking WeakStock showing signs of tiredness after bull run
Currently in LL LH phase
Strong resistance at 665-70 areas
It can be kept as SL if sold near 650-55 areas
Expecting 610-600 in coming days
Maricosell
MARICO Distribution PhaseMarico 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.
Maricogainprofit066
High : 18/10/2021 : 607.70
Low : 25/03/2020 : 245.50
75% : 517.15
50% : 426.60
25% : 336.05
MARICO SHORTI have a negative bias on the FMCG sector this week. Marico has been in a strong uptrend on the 15 min chart, using the 200 Bollinger Bands, its visible how the price is moving very very close to the upper end of the Bollinger range.
The strategy is to capture the decline from the current highs. The previous high is the first target at 351 and second target at 346 slightly below it.
Short at CMP.
SL:360.85
T1:351
T2:346.
Risk Reward - 2.7:1
