Marico, Tata Motors: 5 Nifty50 stocks that can do well in a weak market

Here are contrarian trading strategies at a time when the overall markets are showing signs of weakness

Marico Limited (MARICO): After conquering the 200-days moving average (DMA), the counter has successfully managed to trade above the 50-DMA with “Higher High, Higher Low” formation. This reflects a strong upward momentum with price absorbing selling pressure at higher levels. Going forward, a decisive close above Rs 380 levels may open the doors for a further upside. It can hit Rs 410 and then Rs 418 levels over the next few sessions. However, the stock needs to defend Rs 360 on a closing basis to maintain its upward bias. CLICK HERE FOR THE CHART