Marico Ltd- Cup & Handle Breakout Forming?

10. Apr.

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

6. Mai

Trade geschlossen: Ziel wurde erreicht

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.