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
Reply
praveen.bhatiya DeepamChavda
@DeepamChavda, No Sir I've not checked the fundamentals it is based on Technical analysis only.
Reply
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
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out