MRF trade ideas
MRF TYRES & IT'S WILD MOVES AROUND 200 SMAThe 200 simple moving average (SMA) is considered a key indicator by traders and market analysts for determining the overall long-term trend. The price level in a market that coincides with the 200 SMA is recognized as a major support when price is above the 200 SMA or resistance when price is below the 200 SMA level.
Why is the 200 SMA so common for traders and analysts?
200 SMA is Widely followed by everyone. Markets react strongly in relation to it partially just because so many traders and analysts attach so much importance to it.
Nothing to Explain more about it, because everyone knows about 200 Sma.
Let's Look at MRF price Action Around 200 SMA. There Are Many Wild Moves In MRF TYRE LTD Around 200 SMA.
MRF TYRE LIMITED From Low of 401 In 2001 To High of 81400 in 2018. 81400 ( up by 20300% in 17 Years)
"This Dude Is the Only One Who Knows How To Use Rubber, While We Just Use and Flush"
Let Look at the Price & 200 Sma History Since 2000 to till date.
2015-2016
2013-2014
2011-2012
2009
2007-2008
2005-2006
2004-2005
2003-2004
2001-2002-2003
MRF Inside bar at S/R zoneMRF Inside bar at S/R zone.
Go long if it crosses high of inside bar.
Short if it crosses below low of inside bar.
MRF - Continuing its bull runNSE:MRF is on bull run and continuing to break its previous highs
Go long above 81402.50
T1 - 83330
T2 = 85428.10
SL - 79635.15
MRF : good buy for swing??Verdict:
1) Multiple attempts to break support level @ 74097
2) Thursday (12th July) candle failed to breakout resistance
with high volume, means SELLERS might be active & profit
booking is likely scenario (since current trend is sideways)
3) OI is decreasing with high number of contracts traded
(From historical data, traders might have added SHORT
position on thursday, on verge of failed BREAKOUT & today
looks like SHORT COVERING)
4) 73000 to 73500 is good buying spot for 4-5% gain in 10 days
MRF- Triangle PatternNSE:MRF just given breakout on chart and now stock looking for level 80K in next few days there is support on level 75,200. for more detail check in chart with notes too.
MRF Relief RallyMRF can shoot up for a relief rally. Keep the support as tight stop loss. If gaps down, buy when the high of first 5mins candle is broken
MRF - Symmetrical TriangleMRF has formed a symmetrical triangle and there's a higher chance of a breakout as the stock is in an uptrend on a bigger timeframe. It also exhibits a buching and flaring personality and it is currently bunched.
mrf longmrf
stock in uptrend near suport positive divergence
long above 46000 sl 44100
trgt1 48000
trgt 2 48600
eduational purpose only
MRF - Will it break the resistance?MRF likely to break the resistance of 74000. Every time it hit the 74000 zone, it reversed only to form a higher low.
Head & Shoulder ReversalThere is a clear Head & Shoulder pattern and stock is trading below the neckline. It has also retested the neckline from below thus offering an opportunity to short the stock for a target of 65700.
Disclaimer : All ideas and comments are my personnel view. please take financial consultancy for trading decision.
Bullish Bat in MRFBullish Bat in MRF
PRZ for Buy 66800 to 67200 with Stop of 65800 for 68200,69400
CMP : 67543 @ 26/01/2018
MRF- "CUP and Handle"Buy range
72500-73500
Target
75500
76500
77500
78500
SL below 70900 CBSL
For educational purpose only, Not responsible for any loss
MRF : Can Hit Century by Back to Back Sixes Like "Virat Kohli"Dear All , Everything is mentioned Over the Chart ... Good Luck !!!
#MRF - Rounding bottom on weekly chartMRF has formed rounding bottom pattern on weekly chart and yesterday stock managed to closed above previous swing high. Expect this momentum to continue in MRF along with other tyre stocks.
