It has been observed that Marico is trying to break out of rectangle and from a strong horizontal resistance level.
Long Entry: 265.5
Target 1: 264-275
Target 2: 284-285
Stop: Below 261.5
Marico after breaking long term up trend, it seem to have established a down trend and trading in bearish channel, today it broke support but closed within the range it may be due to news of currency discontinuation (500,1000 notes end) the stock is touching support and ready to upward direction to channel resistance somewhere between 270-275, traders may go long...
