thechama3
Long

MRF COMING OFF A ROUGH TERRAIN

MRF (NSE:MRF)  
NSE:MRF   MRF
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With the price movement and the pattern confirmation one might fee that MRF might bounce back in the short term. One can slowly start nibbling in small quantities with a target of 59950/ 61250 with SL below 53000. There is a high possibility we might have caught MRF at the bottom of this downtrend.
Comment: Made a high of 58790 yesterday and did not make a new high today. Hence exiting positions with a gain of 7% in a couple of weeks.
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