thechama3

MRF COMING OFF A ROUGH TERRAIN

Long
NSE:MRF   MRF LTD
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.
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.