The stock attempted breakouts in Feb/Mar but could not get follow through volume. Dropped back to 20Wk VWMA, and this time managed to get massive follow through volumes on breakout. The stock is trading at ATH price, so sky is the limit. Nifty is in a definite trend, so this is likely to get good volumes in the coming days.
Moving along with sector.
With MRPL ready to setup oxygen generation plants across Karnataka, along with a channel breakout, a strong Bull run is expected.
Target-56 in a day or two, 76 in mid-term and 136++ in Long term.
Please note that the above is for our analysis and educational purpose only. Do your research before investing
Observations on the Chart.
The Channel it was trading has been subjected to breakout from. It will retest the upper channel trend line and then there's no stopping it before targets of 400!
All predictions are merely educational and not a trading advice whatsoever