praveen.bhatiya
Long

Three Drive/Channel Candlestick. Good RR Ratio

NSE:MRPL   MANGALORE REF &PET
The stock is moving nicely between parallel channel having multiple alternative touches on both sides. Yesterday's Doji Bar got confirmed today. One can buy the stock now or on dips for a target of 115. It would provide decent Risk to Reward ratio.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Trade active
Comment: Trade doing well as expected, wanted to see it breaking the channel line :)
Sir Do you suggest to Buy it for Long as its Funadamental are Strong???

Ref: https://www.marketsmojo.com/Stocks?StockId=110452&Exchange=1&Force=1#!#navDashboard
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praveen.bhatiya DeepamChavda
@DeepamChavda, No Sir I've not checked the fundamentals it is based on Technical analysis only.
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as this stock is downward channal can it will face resitant on upper channal line.
+1 Reply
@champ123, That is possible but mostly after 2 downwards drive stock becomes oversold and short recover forces the price to break the upper channel line
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