Marico Limited

• 06 August, 2024 Ruchit Thakur

Marico Limited

The stock of Marico Limited has reached a record high and appears to be a great long-term investment.

Please study and comprehend the monthly chart layout for Marico Limited. Marico Limited appears to be a good option in the 590–600 range, based on the chart. It has performed exceptionally well thus far and has enormous development potential.

Please refer to the monthly chart that Marico Limited has provided. The stock is gaining and trading above horizontal resistance now that it has broken out of the 590–600 range. The data shows that Marico Limited is currently in high demand at a price of 645. This projected upside is esmiated approximately around 780 to 800, as the chart below illustrates. 

• Marico Limited is a great long-term investment option because it is still growing and has made a respectable breakthrough at 590–600.
• Marico Limited seems to be in a good place, with room to grow to 780 and 800 on the chart.
• The greatest time to buy this stock right now is between 590 and 600 since the risk-reward ratio is perfect for cash transactions.
• The stock, with a target price range of 780–800, has broken out of a rectangular pattern, according to the chart.

Please refer to the Marico Limited monthly chart as a point of reference. The monthly chart shows horizontal resistance, a breakout, and demand in the 590–600 price area. Strong demand in that sector causes the stock to soar.

The stock hit a new all-time high, suggesting that the current price represents a fantastic purchasing opportunity. Kindly observe the horizontal resistance and the point of rupture. As of now, the stock has maintained its upward trend on the chart, reaching its targets between 780 and 800. 

The rectangular pattern has evolved into Marico Limited, with the most recent goals falling between 780 and 800. A popular technical analysis pattern, the rectangle is defined by horizontal lines that indicate strong support and resistance. Buying at support and selling at resistance are the two trading strategies that are effective. An alternative would be to wait for a breakout from the formation while applying the measuring approach.

Due to the huge demand for the stock, investors may look for a long-term buying opportunity in the 590–600 zone and take advantage of any falls that happen. A recovery to the 780 and 800 levels might result from this, exhibiting a strong risk-reward ratio. Use every downturn as an opportunity to invest because this stock has a large upside potential. Use each dip to buy shares of this company.

Investors may use cash to buy the stock gradually, aiming for a price range of 780–800 and a 507 stop loss.

In order to enable the stock or instrument to attain high volume and upside with a quick increase and target hit, as a trader or investor, I frequently search for a Volatility Contraction Pattern (VCP), which is a circumstance in which there is a decrease in price volatility before a significant gain. If you would want more information on VCP patterns, please download the application from our website. We also demonstrate the highly-precision pattern recognition technique.

Marico Limited's monthly chart shows both resistance and support. The spot chart displays the levels. 

Company Profile: An Indian multinational consumer goods company called Marico Limited offers wellness, beauty, and health-related goods and services to consumers. Marico is a multinational company based in Mumbai that operates in more than 25 countries in Asia and Africa. It owns brands in the areas of edible oils, health foods, male grooming, skin care, hair care, and fabric care.

The company's revenue as of 2019–2020 was ₹7,315 crores. Marico operates eight factories in India, which are situated at Paonta Sahib, Puducherry, Perundurai, Kanjikode, Jalgaon, Paldhi, Dehradun, and Baddi. The organization's chairman is Harsh Mariwala, and its managing director and CEO at the moment is Saugata Gupta, who took up the position in March 2014.
 

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