Topic statement:
MRF has experienced a sharp correction in recent months, with the stock finding strong support at the retracement level and indicators are giving an oversold opportunity.
Key points:
- Stock has corrected to the 61.8% retracement level at 1,08,000, providing strong support
- Strong support is also seen at the emotional level of 1,00,000
- Price is on the 180-day moving average
- Weekly MFI is at 28, indicating the stock is very oversold
MRF has experienced a sharp correction in recent months, with the stock finding strong support at the retracement level and indicators are giving an oversold opportunity.
Key points:
- Stock has corrected to the 61.8% retracement level at 1,08,000, providing strong support
- Strong support is also seen at the emotional level of 1,00,000
- Price is on the 180-day moving average
- Weekly MFI is at 28, indicating the stock is very oversold
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.