The short-term outlook is bullish for Marico. The price action on the weekly chart indicates that the stock has been getting strong support in the ₹630-₹620 region. Cluster of supports are there in the ₹650-₹630 region. So, any fall below ₹650 is likely to be limited as fresh buyers can emerge and take the share price higher. Moving average cross overs on the daily chart also strengthens the bullish case. The chances are looking high for Marico share price to rise towards ₹700-₹710 in the coming weeks. Traders can go long now at ₹673. Accumulate on dips at ₹655. Keep the stop-loss at ₹640. Trail the stop-loss up to ₹678 when the price goes up to ₹688. Move the stop-loss further up to ₹690 when the price touches ₹698. Exit the long positions at ₹710.

Video Credit: Businessline

(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)