Stock of the day : Buy Marico Ltd For Target Rs. 600 - Religare Broking Ltd
Marico Ltd
* Marico has been gradually inching higher after decisive breakout from Triangle pattern, which continued for more than 2 years.
* Formed the base while holding above the support zone of short term moving average i.e. 20 EMA on the weekly chart.
* The chart pattern combined with strong volumes suggests a bullish tone to continue.
* We thus recommend creating fresh longs in the mentioned zone.
Buy Marico Ltd CMP 564.00; Range 560-565; SL 544; Target 600
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