MRF LTDEducation
MRF : good buy for swing??
Verdict:
1) Multiple attempts to break support level @ 74097
2) Thursday (12th July) candle failed to breakout resistance
with high volume, means SELLERS might be active & profit
booking is likely scenario (since current trend is sideways)
3) OI is decreasing with high number of contracts traded
(From historical data, traders might have added SHORT
position on thursday, on verge of failed BREAKOUT & today
looks like SHORT COVERING)
4) 73000 to 73500 is good buying spot for 4-5% gain in 10 days
1) Multiple attempts to break support level @ 74097
2) Thursday (12th July) candle failed to breakout resistance
with high volume, means SELLERS might be active & profit
booking is likely scenario (since current trend is sideways)
3) OI is decreasing with high number of contracts traded
(From historical data, traders might have added SHORT
position on thursday, on verge of failed BREAKOUT & today
looks like SHORT COVERING)
4) 73000 to 73500 is good buying spot for 4-5% gain in 10 days
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