On the weekly chart, the stock seen to have moved up as it found support around the lower band of the rising channel, says Rupak De of Bonanza Portfolio.
Marico after few days’ consolidation has given a highest closing. On a line chart the stock price has moved above its previous inflection point of smaller degree.
On the weekly chart, the stock seen to have moved up as it found support around the lower band of the rising channel. In addition, weekly RSI (14) is in bullish crossover and rising.
The author is Technical Research Analyst at Bonanza Portfolio LtdDisclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.The Great Diwali Discount!
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