Marico-Nice Breakout
Capital to be deployed- 20k
Investing Price -565-572
Breakout Price -564
Stoploss -537
Targets -620-821
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Marico has made a nice bullish flag and pole pattern and monthly charts.
Will we see 800-850 levels in Marico or I am being too optimistic?
Lets wait and watch.
NSE: MARICO is closing with a bullish consolidation candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on...
Stock is looking weak in daily time frame. From past few days it’s not able to cross it’s previous swing in daily time frame. It’s at crucial level 520-523. It has bounced multiple times from this lvl.
However, if this lvl breaks on 30th June it will be good opportunity to go short.
Please make sure there should be a bearish price action in 5/15minute time frame...
will buy tommorow my targets are 550 / 560 in 3/4 months marico is at a great buy zone strong conviction at this moment but lets see how things un folds
As per my analysis, if NSE:MARICO upcoming any 45min closed above level of 483.00. We can see huge short covering and fresh buy entry. Buy level would be 485-490 with stop loss of 465 (20-25 points risk). My expected upside target will be 501, 520 & 540. It may take 1-2 weeks to get targets.
Note: This is my personal analysis, only to learn stock market...
There is weekly 200 ma resistance just under the support.
Fibonacci golden level of 61%
There is major support zone.
Buy i dont feel that Marico should be bought in this bear market.
Marico view for today 6th Feb
Descending channel continuation expecting in Marico ltd for 6th Feb
Please follow strict risk reward and stop loss if u follow the level
Thanks,
V Trade Point
NSE:MARICO has been closed above resistance of 502. My idea is to take entry at 502 with stop loss of 495 (-7 Points). My up side target will be 522 (+20 Points).
Note: This is my personal analysis, only for learning. Thanks.
