MRPL forms a head and shoulder pattern on a daily chart and gave a breakdown but then is on full sideways consolidation so that if the price goes above 80 it's a good buying opportunity.
MRPL -- DAILY CHART -- TRENDLINE BREAKOUT
1. MRPL seen trendline breakout on daily chart last closing candle with good volumn
2. consolidation seen at 68-73 level last few session and consecutive bottom formation seen around this level where breakout of consolidation also seen
3. stock can move to bullish since trix flow line also turn green and look for...
Namaste!
I want you to pay attention towards 3 arrows.
1. Black arrow: This candle had an increased selling volume (resistance), which was broken by 3rd weekly candle followed by 2 weekly candles of consolidation.
2. Blue arrow: This is the candle where bulls entered with approx double the volume and were able to close above the high of blue candle.
3. The rally...
MRPL is in a Bullish Mode for past several weeks. The Price has moved up supported with Strong Volumes. A Few Resistances has been broken and the Stock seem to be moving up with Strength. The 30 EMA lines is now clearly below the Price line indicating the Prices are supported by good buying.
This is follow-up on Mangalore Refinery & Petrochemicals Ltd. Can check link to related ideas.
Target 1 achieved. Gain of more than 41%. Target 2 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
Breakout in MRPL with huge volume
can give 10-15% upside move .
first target is 77 after that it can retest their BO level.
Here is no advice for buying or selling it is just educational purpose.
Mangalore Refinery & Petrochemicals Limited (MRPL) was set up as a joint venture (JV) between the AV Birla Group and Hindustan Petroleum Corporation Limited (HPCL). It is now a subsidiary of the Oil & Natural Gas Corporation(ONGC). The company is mainly engaged in the business of refining crude oil, petrochemical business, trading of aviation fuels, and...
There is no guarantee in stock market and Nothing over week
Always Invest or trade according to your loss bearing capacity
STOCK TO STUDY (EDUCATIONAL PURPOSE ONLY)
MANGLORE REFINERY AND PETROCHEMICAL LIMITED with target of RS 75 CMP IS RS 67.90
STOP LOSS: ACCORDING TO YOUR RISK APPETITE OR RS 55
Disclaimer: I am not Sebi Registered. All my ideas/opinions...
NSE:MRPL
Cmp : 57.65
Entry : Closing above 58.2 may give target
Target : 7%+ Always
Stop Loss: According to one's Risk Reward ratio
Above 63.80may blast more
#Study, Learn & Earn.
If you love this post please like and comment your thoughts below. That will be a great motivation for me to post similar ideas ahead.
Disclaimer: All the information posting on...
Mangalore Refinery & Petrochemicals Ltd. is an oil refining company, which engages in the petroleum refinery services. It offers diesel, motor spirit, and aviation turbines fuels. The company was founded on March 7, 1988 and is headquartered in Mangalore, India.
NSE
