Mangalore Refinery and Petrochemicals Limited (MRPL) is giving a multiyear breakout on the monthly chart (also weekly). The possibility of upside is for 206, 260, and 290 levels. Also, continuously increasing volumes are seen on the monthly chart. The level of 148 can act as support.
Disclaimer: I am not a SEBI registered analyst. All the stocks are for educational purposes. Investors must consult a financial advisor before making any investment. It is not a buy or sell recommendation.
@comprehensiveP12789, MRPL 20 EMA is placed at 225 (daily time frame), at which it is taking support currently. If it bounces, it can head towards 289 again. Last time the bounce came at 20 EMA only which was placed at 179, then stock made ATH 289.
comprehensiveP12789
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@onkarsoundankar what does Ema stand for and hw long should I wait to avoid loss thanking in advance Highly obliged for ur earlier reply
onkarsoundankar
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@comprehensiveP12789, EMA stands for Exponential moving average. It now moved from 20 EMA level which was placed at 227.