MRPL Showing Strength !! Momentum Building for Next Rally !!
MRPL — Technical Overview
On the long-term timeframe, MRPL is moving within an ascending parallel channel, with a strong support zone between 120–135 and a resistance zone near 420–520.
According to the Supertrend indicator, the stock remains in a bullish phase, showing two key dynamic supports — the first around 145, and the second near 125.
On the daily timeframe, after a 50% upward move, the stock witnessed a healthy correction of around 20–24%, bringing it back toward its support area between 145–155.
This correction zone aligns with the law of polarity, where previous resistance has now turned into support.
Scenario A: If the momentum continues to build, the price may move toward higher levels directly.
Scenario B: If the breakout retests the previous breakout zone, the price may revisit 145–155 before resuming the next leg higher.
Based on this structure, the potential target for the next leg lies around 220 levels, supported by the channel resistance projection and measured move.
On the long-term timeframe, MRPL is moving within an ascending parallel channel, with a strong support zone between 120–135 and a resistance zone near 420–520.
According to the Supertrend indicator, the stock remains in a bullish phase, showing two key dynamic supports — the first around 145, and the second near 125.
On the daily timeframe, after a 50% upward move, the stock witnessed a healthy correction of around 20–24%, bringing it back toward its support area between 145–155.
This correction zone aligns with the law of polarity, where previous resistance has now turned into support.
Scenario A: If the momentum continues to build, the price may move toward higher levels directly.
Scenario B: If the breakout retests the previous breakout zone, the price may revisit 145–155 before resuming the next leg higher.
Based on this structure, the potential target for the next leg lies around 220 levels, supported by the channel resistance projection and measured move.
@RahulSaraoge
Connect us at t.me/stridesadvisory
Connect us at t.me/stridesadvisory
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.
@RahulSaraoge
Connect us at t.me/stridesadvisory
Connect us at t.me/stridesadvisory
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.