Marico (Will it sustain the breakout and continue Upwards ?)
Marico has just broken through a triangle on the 6th and is looking to continue its rally. A trade could be picked up on a retest or a break of previous days high which will also mean a breach of the resistance area which it has struggled to breach for a while now. The MACD has also formed a bullish structure supporting the uptrend.
The market as of this week should ideally pick up a short term trend on the back of Joe Biden being elected as president and hence the sentiment/price action shall follow. Some Volatility might be expected on the back of announcements made by the incoming president or any hurdle posed by trump which he is likely to do and there might be a sudden reversal in the trend.
So as for a trader these situations can be very tricky and might cause losses in a very short time. Please be careful and trade with caution.
The market as of this week should ideally pick up a short term trend on the back of Joe Biden being elected as president and hence the sentiment/price action shall follow. Some Volatility might be expected on the back of announcements made by the incoming president or any hurdle posed by trump which he is likely to do and there might be a sudden reversal in the trend.
So as for a trader these situations can be very tricky and might cause losses in a very short time. Please be careful and trade with caution.
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