MARICO trade ideas
Marico BuyPositional Trade
Marico Buy Above : 339.50
S.Loss: 327.50(ClosingBasis) Target: 342-347++
CMP 338.10
Educational Purpose Only
MARICO Long TradeThis is follow up on my FMCG post
Marico looks good for 370 level. Good risk reward trade.
Let's find the number to enter in the MARICO.The thing to note is that the stock is having a strong channel that can be seen by the chart up-trend and down-trend follows tightly.
Another thing is to be noted: WHen this stock takes a turn, the big move creates on the single day of secession. So far we have not seen any such thing/big move on a single day o trading.
As per the daily chart, this stock can test 320 nearby. This is the meaning that stock has remained one sharp fall .
Almost all the major resistances and supports are mentioned in the chart. if you look carefully, you will realize that all majors resistance became stronger support.
As per above statement, (c) has already taken as a support 334.2.
Expected investors entry between 228-23 [/b ]2 range for the 357-361 target on this stock.
Primary trend is up and we want to move the direction of primary trend therefore, buying on this stock is worthful.
MARICO TARGET 351 SL 333 DAY CLOSE BASEMARICO CMP 338.50 BUY FOR TARGET OF 351 WITH DAY CLOSE SL OF 333, THERE IS MORNING STAR PATTERN WITH VOLUME BREAKOUT.
AFTER SO LONG STRONG SELL TREND MARICO IS SHOWING TECHNICALLY GOOD SIGNS OF REVERSAL.
Marico Trend Reversal?The weekly price is at a strong support now. Momentum of bears seems to be losing.
In the Daily, we see a Bullish Divergence with the RSI on 13 Dec and 16 Dec. In the 75 min, TL is broken, but not with conviction.
But, since RSI is oversold everywhere, I would love to go long with SL around 326. Whether the trend reverses or not, we can expect some gains here.
