MRF: The counter is set to become the first company to kiss 1 lac figure/ share
the counter is in a visible uptrend and has strong support at 93000-94000 ZONE
and as long as it holds support areas, it is likely to move beyond 1.10 L
trading above 20 & 50-period average
trading now well above earlier resistance areas
should approach previous hurdles at 4225, which if sustained can continue towards 4450-4480
it is turning bearish and we may likely see a period of no return in the counter for the upcoming year or so!
a kind of top-out formation which suggest long to be avoided as an investment.
it can test 15200-14900 in coming months/years
syngene and its peer biocon both showing signs of one side upmove
the stock looks great at cmp for a 15 % up-move to the least
it was into a deep consolidation.
from a good amount of time
the best part about this time is it gave a good spike rejection and that too at lower ends of the box
although sl should be respected
stock after one side upmove
consolidating in range 185 to 210
with current formation
i see 184 area as sl for 230 /250 + targets in short term
Imp Is its above moving averages like 100/200 /20 etc
gold TREND up , as long as 1640 positionally is on hold ..
its a buy on dip ositional with 1640 stop close
downide levels to watch max 1600 ( if 1640 breaks) while upside levels to watch is 1710
i feel that bank nifty as opened gap up today and all psu gaining and seem overbaught a profit booking as well as private bank looking weak ,
sppecially kotak and yes bank as well as hdfc too ,
i think it should come down to 25400- 200 levels on or before expiry!!!
