1. MRF has formed a . A represents a temporary interruption of a rising trend.
2. has given breakout with very high .
3. Important thing that needs to notice here that where the has given breakout! if you look closely price has given breakout at a very important juncture. where , 200 , and 0.5 Fibonacci level are all meeting together at one same point.
4. Stocks as formed pattern. The pattern is a major reversal signal.
5. is rising, and the delivery percentage also increases, which is a good sign. A high delivery percentage suggests that investors are showing interest in these stocks.
6.Based on the open interest future percentage, an increase in open interest, along with an increase in price, mostly indicates a build-up of long positions.
7. Trend is Your friend. one of the most reliable trend indicators is which is giving a buy signal. Level (12, 26) −1649.92 Buy.
One thing always keep in mind forever.Market is made up from Human Psychology.
If market is rising someone is buying.
If market is falling someone is selling.
But retailer market participants like us can't move the market.
So if big up move, big players(FII&DII) are buying, If big down move, big players are selling.Market is this simple as. We made it complicated.
Question is this why or when someones buys or sells.
Answer of this questions is again hidden in human behavior and his psychology.
If something is good, people buy it.
If something is bad, people sell it.
Lets come to your question. What do you need to do with stock right now. Generally i avoid giving target price of stock. Because target of stock price no one know. We all assume the stock price target with the help of technical and fundamental analysis. Since we assume the price target that why we always use stoploss.
I am unable to advice you what you need to do now with this stock. Because of Tradingview and SEBI policies and their terms and condition .
But i will tell you, what i would have done if i would have been in this situation.
As par the technical analysis. Price moment is bullish.
From this price level.
By taking a strict stoploss of 75000. I would have taken long position for 1st target 85000 short term, 2nd target 90000 medium term, 3rd target 95000 long term.
Hope this will help you.
I don't know how you even took an initiate to give that brief on the basics of price movement for a post that was suppose to be technical.
That answers a lot of other questions that I had in my head? Good work. Keep it up always.