Marico Limited: Recovery Attempt After Recent Correction

Marico Limited closed at around ₹827, with the stock showing signs of recovery after finding support near the ₹813–815 zone. The short-term trend is still under pressure as the price remains below the 10 EMA (₹835), 20 EMA (₹842) and 50 EMA (₹843). However, the stock is holding around the 100 SMA near ₹829 and remains well above the 200 SMA at ₹790, keeping the broader trend relatively positive. Momentum indicators are showing some improvement. RSI has recovered to around 49.6 after moving into weaker levels, while MACD remains below the zero line but its histogram has turned positive, indicating that recent selling pressure may be easing. For the next move, ₹835–843 is the important resistance zone. A sustained move above ₹843 could improve the short-term technical setup. On the downside, ₹813–815 remains the key support area, followed by ₹795–790. My view: Marico is currently in a recovery phase, but confirmation above ₹843 would be important before considering a stronger bullish move. Traders should closely monitor price action around these levels. Disclosure: I do not have any financial interest in Marico. This is my personal technical analysis and not a recommendation to buy or sell.