MARICO trade ideas
Buy Marico LTDWe witnessed a false breakout towards the ascending triangle
on Marico. And a Double top on the 7th of Jan 2019.The ascending triangle continues to be intact
confirming a strong bullish trend with targets of 360 and towards 400
However, if Price breaks below 324 . The Stock would consolidate towards 260.
(Recommendation Buy at CMP with targets of 360 and 400 SL at 319)
Do not rush into Marico!Marico is on a position of strong buy for a Swing trade . But don't rush IN too early , as it does not confirms signs of any reversal .
Wait for few days , let it rise for few days , and if it manages to make Higher HIGHS and Higher LOWS in an ascending staircase pattern .That's the point you should enter into this trade to play safe .
Before getting into the trade , plan your trade .
Always decide what's your STOP LOSS , ENTRY POINT and EXITS .
Don't be greedy !.
Do not Trade on other peoples opinion .
Invest in what's you see value in .
And Don't forget to lock in profits :)
Marico BUYBuy Marico at CMP 332 SL 320 Target 350.
STock almost forming a rounding bottom at 325 ....and inverse head and sholuder pattern
Marico is a Buy for a target of 375-390On the heikinashi charts of Marico on weekly timeframe, we believe it to be trending upwards with a SL at 337 on weekly closing on heikinashi for a target of 375-390 in 2 months time frame...
Marico Ltd Short term Positional callWww.techno-funda.com
CMP 318.9, Closingbased SL 312.9, Targets 323, 326, 331
* Consolidation Breakout
* Swing high Breakout
* Trend line breakout
* Swing Retracement
* Mini Morning Star pattern formation
Disclaimer: All levels are for education purpose only.
Bullish on MaricoMarico has just completed an ABC correction. It should resume it's uptrend. Nifty FMCG is also supportive of it.
