Long-term investors can buy the shares of Marico (₹573.30) at current levels. The stock has witnessed a bullish breakout of its prolonged sideways consolidation that has been in place since December 2021. This leaves the outlook bullish and marks the beginning of a new leg of rally. The region around ₹550 will be a good support now. Below that ₹515-510 is the next strong support. Marico share price can rally to ₹730-750 in the first half of 2024. Investors with a one-year time horizon can buy Marico now. Accumulate on dips at ₹555 and ₹530. Keep the stop-loss at ₹470. Trail the stop-loss up to ₹590 as soon as the stock moves up to ₹630. Move the stop-loss further up to ₹660 when Marico share price touches ₹690. Exit the long positions at ₹730
Technical Call: Marico- BUY
Published on
July 30, 2023 02:00
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