Wednesday, March 25, 2015

Marico EW Analysis By Mamta

         In the above chart of Marico as we can see it has completed an A-B-C correction in daily charts and is expecting either a B retracement leg or a 5 wave leg on the higher time frame, in either case expecting a minimum target of 400. It would be safer to buy when the stock breaches 374, which is the upperband of the trendline connecting the tops, on the higher side and maintaining a strict stoploss below 359, which is the horizontal support for the stock.