Marico broke out from a resistance zone 515-520 on closing basis after testing three times.
On Buy Side I am looking for Targets of 550 followed by 580-590 Zone.β¨
StopLoss should be kept in 505-510 zone. It offers 1:2 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis. Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.