Stock Radar: Up 13% in a week to hit 52-week high! This FMCG stock breaks above 3-year consolidation; time to buy?

Short-term traders can look to buy the stock now for a target of Rs 675 in 1-2 months, suggested experts. The stock rose from Rs 516 as on May 3, to Rs 587 recorded on May 10, which translates into an upside of over 13% in a week.

Synopsis

The recent price action also helped Marico stock break out from a 3-year consolidation range. Now, a break above the record high (606) will open room for the stock to head higher towards 650-670 levels. FMCG stocks are in focus amid volatility seen in the markets.

Marico, a part of the FMCG industry, rallied over 13% to hit a fresh 52-week high last week and the price pattern suggests that there’s more steam left to it.Short-term traders can look to buy the stock now for a target of Rs 675 in 1-2 months, suggested experts.The stock rose from Rs 516 as on May 3 to Rs 587 recorded on May 10, which translates into an upside of over 13% in a week.The recent momentum helped the stock hit a fresh 52-week high
BY
ETMarkets.com
3 mins read, Last Updated:
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