Stock Radar: Marico breaks out from 6-month consolidation; check target price & stop loss
Synopsis
Marico Ltd, a FMCG stock, has broken out of a 6-month consolidation range, signaling potential fresh highs. Experts suggest buying the stock, either now or on dips, with a target of Rs 770 within 1-2 months. The breakout is supported by positive momentum, reclaiming key moving averages, and a buy signal from the Supertrend indicator.
Marico Ltd, part of the FMCG pack, breaks out from a 6-month long consolidation range on the weekly charts which has opened room for the stock to hit fresh highs.Short-term traders can look to buy the stock now or on dip for a target of Rs 770 in the next 1-2 months, suggest experts.The stock hit a record high of Rs 736 on February 1, 2025 but it failed to hold the momentum.The stock got trapped in a…
