MARICO: BUY
STOP LOSS: Rs 245
TARGET: Rs 265
The stock surpassed its hurdle of 255 after taking support
at its 50 Day exponential moving average and is moving higher from last
three sessions. The positive move in the stock is intact even after
profit taking witnessed in the broader market. It is rising upside
continuously and respecting its 13 weekly moving average on closing
basis from last twenty five weeks. It snapped the losses made in
previous week by more than 38.5% Fibonacci retracement levels.
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