Marico Limited (MARICO) Stock - Complete Technical Analysis - Dec 13, 2024

Marico Limited Stock Analysis - Will It Break Resistance or Face a Pullback Technical Analysis

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) has shown strong momentum after recovering from its 52-week low, but recent price action suggests it is in a consolidation phase. The current price of 639.80 is 31.56% above the low of 486.3, but still 11.12% below its recent high of 719.85, indicating potential for either a pullback or fresh upward movement.

Key support is seen near the 630 level, with the EMA lines providing additional confirmation of this zone. Resistance comes into play at 648, where price action has struggled to surpass recently. A breach above this level could lead to a test of the 660 zone, with further upside potential toward the 719.85 high.

On the technical front, the RSI is neutral, suggesting no immediate overbought or oversold conditions. However, the MACD below the signal line shows bearish momentum. The Stochastic RSI indicates a neutral to bullish outlook, while the CCI remains positive, suggesting that the stock could continue its uptrend if it successfully breaks the resistance.

The stock's recent price fluctuations between 600.55 and 648.60 highlight the high volatility in the stock, which is reflected in the ATR. Traders should be mindful of these fluctuations and wait for a clear breakout before taking significant positions. If MARICO can sustain its upward movement and break resistance, it could see further gains. However, if the stock faces rejection at these levels, a pullback towards the 630 zone is possible. Keep an eye on price action around key levels for any signs of reversal or continuation.