The stock of Marico was consolidating in the range of ₹700-725 for three weeks. But on Wednesday, it broke out of the resistance at ₹725, denoting a fresh positive momentum.

Video Credit: Businessline

Notably, the trend prior to the consolidation was bullish so the fresh breakout has confirmed a bull flag chart pattern. Hence, the likelihood of a rally, which can also be swift, is high. As per the chart set up, Marico’s share price can increase to ₹860 in the near term.

Therefore, one can buy at ₹735 and accumulate if the price dips to ₹715. Place stop-loss at ₹690. When the price rises to ₹780, tighten the stop-loss to ₹750. Revise the stop-loss higher to ₹790 when the stock hits ₹830. Book profits at ₹860.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

Published on May 8, 2025

This article first appeared on The Hindu Business Line

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