Marico Reverse H&S Pattern Consider long after sustain of 321 for 330/338 with sl of 312
**Educational Purpose only
MARICO trade ideas
Marico on Daily chart good support area Marico is a buy if trend line break upward as current price is at 61.8 % retracement level of last fall so if price sustain above trend line then chances are there it will go near upward channel around 78.6 % retracement also.
Marico has clearly break daily resistance zone so that is positive.
Long - Simple S&RPrevious resistance acting as support with good volume.
Good long position, for short term!!
Marico: Chart set up & trading strategyMarrico
CMP 290
Observation
- 285-268 is crucial zone
- if the zone is held, a possible Head & Shoulder in the making with confirmation of pattern above 315 neckline that may occur in mid-May
Based on the view one may consider
Strategy 1
Safe Buy above 315 for target of 333 / 340 / 345
Strategy 2
Aggressive traders may consider Buying on dips in the zone of 285-268
Stop loss if closes below 258
Take care & safe trading...!!!
Bearish Harmonic Pattern - Double confirmation- MaricoBearish Harmonic Pattern - Double confirmation- Marico
Inverse Head N Shoulder pattern breakout in MaricoMarico has given a decent breakout from head n shoulder pattern. Its target works out to 391. Keep stop loss @307. Risk Reward 1:5.5,
Please consult your financial advisor, I am not a SEBI approved analyst. For education purpose only.
MARICO SetupMARICO is at a support level. Looking to buy at the lower parallel. With target1 & 2 @ median line and upper parallel respectively.
Stoploss@281
Marico Long - Broken Cup and Handle patternMarico has broken cup and handle pattern and formed a Marubozu. MACD line above signal line. Can go long with 2% SL at 311
MARICO H&S patternNSE:MARICO
price touched the neckline. wait for the breakout for fresh position.
those who already in position can now book profit and wait.
MARICO - 15minExpecting big upmove from CMP on Breakout from the current range.
Volume declining
On Daily time frame its forming H&S Pattern
Can enter with 15min candle breakupside...
MARICO possible tradeNSE:MARICO
trend line and RSI breakout with heavy volume.
stock can go up to complete H&S pattern on daily chart.
high risk trader can initiate trade with a stoploss of 275.
