MRF trade ideas
Long MRF with a SL of 59400Buy MRF with a target of 60800 with a SL of 59400. Adjust your volumes as per entry price. Avoid taking the trade if it opens above 60400.
Disclaimer :
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. Any opinions, news, research, analyses, prices, or other information offered is provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
MRF Long TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
BullishMRF: Strong resistance at 70, 250. Short term target 66,500, long term support at 60,000. Please inform the board when it crosses 70,250 on closing basis. If it then remains bullish, 6-9 month target can beas high as 90,000
MRF: Wonderful Breakout & Retest, Wyckoff Supply AbsorptionCheck out the price action along with the volume signature in the highlighted zone in the chart. The breakout on slightly higher volume and then the retest on even higher volume was an interesting development. The subsequent price action is a characteristic sign of absorption of supply while the price was congesting. I am long in this stock and would not be surprised with a rally to the levels mentioned in the chart.
NOTE: Even at the cost of sounding repetitive, these are just #NotesToSelf . Am sharing it in the hope that you might find it interesting and may be pick up a clue or two regarding chart reading. These are not meant to be trading recommendations
FLAG PATTERNMRF is showing a FLAG PATTERN; wait for a decisive close above the range on high volume. Target can be placed as shown in the image with green dotted line or at a distance which is equal to length of pole
LONG in MRF on NSE (INDIA)This is daily chart of MRF on NSE (INDIA) which is trading at 66550. It seems to be good scrip for positional long trade based on following observations:
1. Support zone has been marked on the chart indicating multiple supports /resistances using arrows. Now, the price has come out of this support zone decisively on 2nd Nov 2018 and thus top fibre of support should act as good support for the scrip.
2. Price is now trading above EMA20
3. Next major resistance has been marked on the chart which could be considered as possible Target (73200).
4. RSI (59+) is approaching to indicate possible breakout beyond 60 indicating good momentum.
5. Good momentum can also be witnessed on Bollinger Band where price has gone past upper band for the first time since January 2018
Hence, it could be a good long trade with stop @ 63500 (one ATR below top fibre of support zone) with possible target of 73200 (next major resistance)
Happy trading!!! Kindly share views
Ready to RollTeken/Kiju Bullish Crossover
Fwd cloud bullish crossover
Price above cloud...
Only pending is Chikou span is within cloud...once that crosses...
Recipe complete for ST bull
Multiple tyre stocks given breakdown patternsMultiple Tyre stocks given breakdown patterns. Expecting relative strength (i.e multiple stock in same industries giving similar patterns)to reverse trend in the strength of the industry.
MRF buy setup for long term positional trade (good risk reward)Accumulate MRF between 62000-55000
T1: 81000
T2: 100000
SL: 47500
