February 18, 2020 at 8:47 PM #240836Nitin BhatiaKeymaster
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Marico Stock Technical Analysis suggests that the stock is trading near its 52 week low. The obvious question in the mind of an investor is whether the stock is near bottom or Marico share will further go down. The price action analysis shows that the stock is trading near its long term support and resistance point. The probability of a bounce-back is very high from the current levels of 296. Earlier, it was trading in an upward bullish channel then there was a breakdown.
Marico Stock Technical Analysis follows the Triangle Harmonic Patterns. The current triangle pattern is completed. The Marico stock is also likely to create a bullish divergence. This share also follows the Heikin Ashi candles and Stochastic RSI trading system/setup.
On a moving average setup, currently, the stock is trading below its both 20 and 200 periods exponential moving average. The price, volume and delivery % analysis suggests that the stock is very near its reversal point. The reason being, the stock price is decreasing, turnover is decreasing and the deliverable quantity is also decreasing.
The option chain analysis suggests that the call writers are closing their positions. It implied that bears are closing their positions. The options traders believe that the stock will reverse from current levels. Marico Stock Technical Analysis suggests that this stock is one of the worst-performing stocks in the NIFTY FMCG index.
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