Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
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...
Break Out of Down Trend.
Price Crossed Above EMA.
DI+ Crossed Above DI-.
Can Be Accumulated in Demand Zone.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Moving average cross over confirms the continuity of bearish trend. As well, MACD signals that bulls would find very challenging to hold the high in near term. Expect it would stay below 90 level for Dec series. By considering the lesser liquidity, suggesting option investors to execute the order above 0.5
Mangalore Refinery and Petrochemicals Limited is a holding company .The Company is engaged in the business of refinery and manufacturing of refined petroleum products. Its segments include Domestic Sale and Export Sale. The Company is involved in the production of liquid or gaseous fuels, illuminating oils, lubricating oils or greases or other products from crude petroleum, and manufacture of other petroleum products, such as bitumen. Its products include pet coke, liquefied petroleum gas, fuel gas, mixed xylene, high speed diesel (HSD), vacuum gas oil (VGO) and automatic transmission fluid (ATF). It operates retail outlets under the HiQ brand. It has design capacity to process approximately 15 million metric tons per annum and over two hydrocrackers producing diesel. It has over two catalytic reformers producing unleaded petrol of high octane. It offers petroleum and petrochemical products to consumers in various industries, such as mining, power, agriculture, fertilizers and paint.
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MRPL
