Marico, which was consolidating in a 100-point range since May 2022 on the weekly charts, managed to close above the congestion zone this week which augers well for the bulls.
Marico hit a 52-week high of Rs 606 back in October 2021, but failed to hold on to the momentum. It bounced back from a low of Rs 455 on January 27, 2022.
However, the rally was short-lived as the stock started to face resistance above Rs 500. After hitting a high of Rs