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Mrpltechnicalchartsetup

Mangalore Refinery and Petrochemicals Limited Daily Chart Latest reference price: about ₹194–₹195 in recent market data. 📉 Daily Pivot Levels (1-Day Time Frame) Level Price (₹) Pivot Point 193.42 Resistance 1 (R1) 197.27 Resistance 2 (R2) 199.85 Resistance 3 (R3) 203.70 Support 1 (S1) 190.84 Support 2 (S2) 186.99 Support 3 (S3) 184.41 These pivot levels help traders identify intraday support, resistance, and possible breakout zones. 📊 Indicator Snapshot (Daily) RSI (14): ~71 → strong bullish momentum but near overbought zone. Price is above 20, 50, 100, and 200-day moving averages, indicating a strong uptrend in the broader trend. 📈 Intraday Trading View Bullish Scenario Above ₹197 breakout Targets: ₹200 → ₹203 Range Zone ₹191 – ₹197 consolidation zone Bearish Scenario Below ₹190 Targets: ₹187 → ₹184 ✅ Simple Daily Strategy Buy breakout: above ₹197 Target: ₹200 / ₹203 Stop-loss: ₹190 Sell breakdown: below ₹190 Target: ₹187 / ₹184
NSE:MRPLLong
by GlobalWolfStreet
1
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