Technical Analysis Marico Limited

The stock

has moved out of a long consolidation phase (the sideways movement seen in 2023). Since mid-2024 the stock has consistently formed Higher Highs and Higher Lows. This is a textbook definition of an uptrend. Immediate resistance the stock recently hit a peak near ₹800. It faced a slight rejection there which is common as round numbers often act as psychological barriers. Major support there is a strong support zone around ₹720 - ₹740. If the stock pulls back buyers are likely to emerge in this area. The level around ₹605 (marked by your horizontal line) was a major breakout point that now acts as a support for the long-term trend. The move from ₹720 to ₹800 was sharp and backed by strong momentum. We are seeing a small red candle at the very end suggesting a minor cooling-off period or profit booking after the recent run-up. Short-term the stock looks a bit overextended. A small dip toward ₹750–₹760 would be healthy for the trend. Long-term very Bullish. As long as the stock stays above ₹720 the structure remains intact. Technical analysis is based on historical patterns and does not guarantee future results. Always use a Stop-Loss to manage your risk.