Marico Ltd. (CMP: ₹723, Stop Loss: ₹665) gained 1% today and is showing signs of a Piercing Pattern, a bullish candlestick reversal setup where the second day’s candle closes above the midpoint of the previous bearish candle, hinting at potential upward reversal.

Source: Share.Market

Momentum indicators add weight to the pattern: MACD is approaching a golden crossover with the signal line, and RSI has turned upward after consolidating. However, despite positive technical signals, traders should wait for volume confirmation to validate the setup. Key levels to watch are ₹735 as immediate resistance and ₹680 as support.

Dabur India Ltd. (CMP: ₹520, Stop Loss: ₹475) is currently forming a Bullish Harami Pattern, where a small-bodied candle forms inside the prior large bearish candle, signaling potential reversal from selling pressure to buying interest.

Source: Share.Market

RSI is holding above 50, suggesting stability, but MACD has yet to confirm a clear bullish momentum. Volumes look healthy, though a stronger confirmation is advisable before positioning. The stock faces resistance at ₹535, while ₹500 serves as a nearby support level.

Note: Charts and prices are as of 12:30 PM.

Disclaimer

Investments in securities market are subject to market risks, read all the related documents carefully before investing. This is for informational purposes and should not be considered as recommendations.

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