How to Trade MARICOHow to Trade MARICO
📊 Technical Overview:
Current Price Action: MARICO opened at 707 and closed at 736.35, indicating a positive shift from the previous close of 720.1. The stock has formed a Bullish Marubozu pattern, suggesting strong buying momentum.
Key Indicators: MARICO is trading well above its 50-day EMA (675.32), 100-day EMA (660.55), and 200-day EMA (644.09), indicating a strong bullish trend.
Volume Analysis: There is an increase in volume (3995818) compared to the previous day’s volume (2063870), signaling heightened market interest.
🔍 What to Watch:
Resistance Levels: The key resistance levels are R1 (747) and R2 (757). A breakout above these could target R3 (777).
Support Levels: On the downside, S1 (716) and S2 (696) are critical levels. A drop below S1 could trigger a potential pullback.
Bullish Patterns: The Bullish Marubozu and strong bullish candle suggest strong buying pressure.
🧠 STWP Insights:
Momentum to Watch: The RSI breakout signal and Bullish VWAP setup support further upward movement. Watch for a breakout above R1 (747) for a continuation of the bullish trend.
Swing Trade Potential: With strong support at S1 (716), MARICO may be a good candidate for a swing trade with upward potential towards R2 (757).
📌 Disclaimer:
This post is for educational and informational purposes only. It does not constitute investment advice or a recommendation. Please consult your financial advisor before making any investment decisions. STWP and this post are fully compliant with SEBI regulations and promote responsible market learning.
