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Mrpltechnicalanalysis

MRPL AnalysisTHIS IS MY CHART OF THE WEEK PICK FOR LEARNING PURPOSE MRPL- The current price of MRPL is 148.95 rupees I am going to buy this stock because of the reasons as follows- 1. It's retesting the zone which acted as a great resistance in 2007 as well as 2017. So it's a quite old level of interest and now, that zone can act as good support. 2. It got a good buying force in 2023-2024 and went up by almost 450+% and then went into correction. In last few weeks, it has moved up by 50% and then went into small correction. 3. It is showing better relative strength as it stood strong in volatile times including last few weeks. 4. The risk and reward is favourable. 5. The stock has very small free float which is better for some good move. Promoters have got some great holding (mostly government backed) 6. Another good part- The overall sector has shown some decent strength and have good momentum. I am expecting more from this in coming weeks. I will buy it with minimum target of 35-40% and then will trail after that. My SL is at 127.45 rupees. I will be managing my risk.
NSE:MRPLLong
by Its_Bhushan
Mangalore Refinery and Petrochemicals LtdMRPL's technical structure appears bullish if it can break and sustain above its current resistance. Otherwise, it will likely continue its range-bound movement within the channel. The price movement shows a "Falling Channel" (downtrend channel) within a larger uptrend channel. This suggests the stock has been correcting within a broader bullish structure. It recently bounced from the lower boundary of the falling channel, around 150, which is acting as a key support level. If MRPL closes above 154, it would confirm a breakout from the falling channel, indicating the end of the corrective phase and the start of a new upward swing within the long-term bullish trend, and the possible target is 184.
NSE:MRPL
by sydrab