MARICO trade ideas
Marico : Intraday Either side break with good volume would give a good move.
Go long above 373 with SL at 370
Go short below 370 with SL of 373
We can set targets with a RRR of 1:1, 1:2
MARICO_20_10_2020MARICO
BUY ABOVE 370
STOPLOSS 360
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MARICO Bearish channel in 15&30TFIm not an expert im just sharing my views on MARICO for tomorrow
Im not responsible for any profit or loss this is not a recommendation
MARICO is Making Ascending Triangle Pattern (Breakout Trade)Marico Limited : ( NSE:MARICO ) is Making Ascending Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for iNTRADAY Traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that BROKE this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.70% of your TARGET , you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already FiXED in the chart pattern.
You always have to trade only by M oney Management, P osition Sizing, S topLoss Trailing. This is the way to stay in PROFiT .
If you want to get something good like this EVERYDAY then follow me here on TradingView now.
Chart Published By Ravinder Sharma
Thank U.
Reason why Marico reversed suddenly ? Marico reversed big in the last trading session because the price reached the major support level ( major because this level plays from 2017 ) which is shown in the analysis. So the price wont reject too big without reason.
Start your analysis in bigger time frame to find this small small clues !!!
MARICO NEGATIVEMARICO gave a range breakdown and in yesterday's session the earlier support of the range acted as strong resistance completing the retracement.
Also it showed a false breakout trapping many longs justified by follow up volumes
So go SHORT on MARICO
Marico Short sellMarico is at previous demand zone and formed Supply zone here as well, if this level brakes can see good down move from here.
A perfect uptrend for MaricoA channel, rsi, Bollinger bands show that Marico was oversold and reversal in the trend is beginning to show up. All the indicators are matching a perfect uptrend in price.
