MRF correction continues on Daily Chart!NSE:MRF still some correction to go on before good reversal to occur.
MRF
MRF - "You can bet on it"MRF is showing strength. Downtrend has clearly reversed for it, daily RSI above 60.
Buy above 85500 with stop loss @ 82800.
Next resistance is at 90K levels.
#ASHOKLEY CMP 128.40 #Target 157(20%+) #MARUTI #TATAMOTORS #ITC#ASHOKLEY
NSE: ASHOKLEY
CMP 128.40
Target 1: 139
Target 2: 157
SL 120
RR Ratio > 3
Time Frame < 45D
CAN HOLD ABOVE 157 for 170 target! Book part profits!
Factors:
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
MRF - Bullish ReversalMRF has made a strong bullish candle near harmonic PRZ, giving a confirmation to go long.
Target 1 - 81616
Target 2 - 84861
Stop loss - 74860 on daily time frame closing basis
MRF Long term viewUpside: If 72325 is held we can reach 83200 and is breached can reach 104000.
Downside: If 68900 is broken can reach to 54600.
High Volume Breakout with a retested Trendline- A good volume breakout can be seen two days ago taking resistance at 100 days EMA.
- Today the stock has retested the trendline.
- Looking at the correction MRF has gone through, a good up-move be imminent.
- Can be bought above 100 days EMA or the breakout green candle.
- 90.2k can be a near term target.
- Educational Purpose only. Trade at your risk.
Follow @TheChartereds on TG and Everywhere!
#MRF - Rubber meets the road - 6 figures ahead !!A detailed Elliottwave correction is labelled. A large wave 3 impulse was followed by an expanded flat Wave 4.
We may have just completed a wave v or 5 of c of C of 4- which has taken the shape of an Ending diagonal. This has also ended at the previous Wave 4 which is typical such corrections. This seems to have ended wave 4 - a large ABC expanded flat.
If the price shows strength and moves above 83,400 - look for a upward break of 1,00,000 and beyond
MRF is at crucial supportLogic
1) Very crucial support formed on chart, (earlier it acted as a resistance)
2) Rounding Bottom formation (denoted by yellow dotted curve) breakout happened and now it is testing its breakout. (I am slightly bullish due to rounding bottom formation)
3) Stock is in a strong up trend
My view is strong bullish keeping eye on it for any buying opportunity.
MRF - Short term tradingGo long around 90,000
Target 1 - 93,300
Target 2 - 97,800
Stop loss - 88,600
Decrease in selling volume along with demand candles visible.
Kindly like and provide your support. Feedbacks are welcome.
MRFNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
MRF at good levels for accumulationMRF is close to support zone on day chart. One can go long from here, investors can accumulate here and buy more on dips. NSE:MRF
MRF Divergence structure, keep an eye1. RSI Weekly and Daily divergence structure
2. Support of previous resistance and current support which is between 80000-84500 zone
3. if the support is breaks 80000 then we can probably see 74142 range
4. Currently at 50 DMA support zone
nifty auto 🏍🛵🚗🚓🚕🛺🚙🚌🚐🚑🚒🚍NSE:CNXAUTO
if know such skill then you can get perfect sector at right time to invest in and same way if you know such skill that will help you to disinvestment in same sector at right time , as right time entry is most important in such stocks( sectors) same way right time exit or partial booking profit also must required. keep earning keep learning.
Learn . Apply . Grow (if one can find breakouts can hold for some more time with trailing basis stop loss)
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
📊MRF🎯NSE:MRF
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
MRF Buy at 82149 , Has broken its major resistanceI will look at buying MRF because :
It has broken its resistance 81808 after 2 years .
It can show a upward movement .
Entry : 82149
Target : 89894/97525
Stop loss : 73607
