Marico Limited (MARICO) Stock - Complete Technical Analysis - Nov 28, 2024

Marico Limited (MARICO) Technical Analysis Key Levels & Trading Insights 2024

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Marico Limited (MARICO) stock is showing signs of volatility and potential reversals, making it a stock to watch closely for both investors and short-term traders. Trading at 644.85, MARICO is 10.42% below its 52-week high and 32.6% above its 52-week low. The stock has recently formed a bearish shooting star pattern, indicating possible resistance at the 664 level.

The Relative Strength Index (RSI) is currently neutral at 56.26, and the Stochastic RSI is at an elevated level, suggesting an overbought condition. Meanwhile, the MACD indicates negative momentum. The Average Directional Index (ADX) suggests a weak trend, confirming the choppy price action observed recently.

Traders should monitor key support levels around 597.95 and 586, while resistance lies near the 664700 range. With an ATR of 80, the stock shows significant volatility, so its important for short-term traders to act quickly on price movements. If the price breaks the resistance level, a further uptrend could be expected; however, failure to breach resistance could lead to a pullback to support levels.

In short, MARICO appears to be at a crossroads, and investors should prepare for a potential reversal or consolidation. Staying flexible and following the price action around key levels will be crucial for making informed trading decisions.