Technical Analysis Marico Limited.

The stock $MARICO is in a strong structural uptrend characterized by a clear sequence of higher highs and higher lows over the medium to long term. After making a sharp rally in April and May hitting a peak near 850–860 the stock entered a healthy consolidation phase. It is currently trading around 819.45 forming a short-term base or a potential bullish flag pattern. Immediate Resistance 850 – 860. The stock recently faced a rejection here. A decisive daily close above this zone will trigger a fresh breakout, potentially opening up targets toward 890–900. Immediate Support 800. This psychological level has seen strong buying interest recently as evidenced by the lower wicks on the candles near this zone. Major Support 760 – 780. This acts as a structural demand zone. Even if a deeper correction occurs this area should act as a strong floor for the stock. For Short-Term Buyers the stock looks attractive near the 800 support zone for a quick target of 850–860 while Holders should comfortably continue to hold as the primary uptrend is completely intact, and the current sideways consolidation is just a healthy pause that will likely lead to higher targets of 900+ as long as the major support at 760–780 is protected.