Marico Ltd.—Cup & Handle Breakout Forming? ☕️📈
📆 Date: April 10, 2025
📊 Chart Analysis:
Marico is showing a classic "cup & handle" pattern, a bullish continuation setup. The price has successfully broken above the neckline resistance, indicating a potential for upward continuation if volume sustains.
📌 Key Levels:
🛑 Resistance (neckline—now flipped to support): ₹685
✅ Support (Base of Cup): ₹580
🔼 Immediate Resistance Targets: ₹710 ➡️ ₹735 ➡️ ₹765
📈 Indicators & Technicals:
☕ Cup & Handle Pattern clearly visible with a rounded bottom and breakout above resistance.
🔍 RSI at 71.35 shows bullish momentum but is slightly overbought —a sign of strength with caution.
💹 Volume steadily increasing — confirms accumulation phase and breakout intent.
🟥 Multiple "Bear" RSI icons (prior weakness) followed by a ✅ "Bull" label hinting at a momentum shift.
📉 Bearish divergence in RSI is now getting invalidated by price strength and pattern breakout.
🧠 Trade Plan:
📌 Entry near ₹685–₹695 breakout zone
🎯 Targets: ₹710 ➡️ ₹735 ➡️ ₹765
❌ SL: ₹670 (below neckline)
📌 Disclaimer: For educational purposes only. Do your own research or consult with a SEBI-registered advisor before trading or investing
📆 Date: April 10, 2025
📊 Chart Analysis:
Marico is showing a classic "cup & handle" pattern, a bullish continuation setup. The price has successfully broken above the neckline resistance, indicating a potential for upward continuation if volume sustains.
📌 Key Levels:
🛑 Resistance (neckline—now flipped to support): ₹685
✅ Support (Base of Cup): ₹580
🔼 Immediate Resistance Targets: ₹710 ➡️ ₹735 ➡️ ₹765
📈 Indicators & Technicals:
☕ Cup & Handle Pattern clearly visible with a rounded bottom and breakout above resistance.
🔍 RSI at 71.35 shows bullish momentum but is slightly overbought —a sign of strength with caution.
💹 Volume steadily increasing — confirms accumulation phase and breakout intent.
🟥 Multiple "Bear" RSI icons (prior weakness) followed by a ✅ "Bull" label hinting at a momentum shift.
📉 Bearish divergence in RSI is now getting invalidated by price strength and pattern breakout.
🧠 Trade Plan:
📌 Entry near ₹685–₹695 breakout zone
🎯 Targets: ₹710 ➡️ ₹735 ➡️ ₹765
❌ SL: ₹670 (below neckline)
📌 Disclaimer: For educational purposes only. Do your own research or consult with a SEBI-registered advisor before trading or investing
Dagangan ditutup: sasaran tercapai
The first and second resistance level has been touched. If the trend is to continue, it's important to follow a trailing stop-loss strategy and patiently wait for the price to approach the third resistance level.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.