Stock took support again from the demand zone, The last 2 candles are wide with increase in volume. With a SL below 40 on closing basis hold the stock with target 49/51/57.
Buy = 56.73375
SL = 50
Target 1 = 70.20125
Target 2 = 76.935
25/10/2021
Bullish NSE:MRPL-->Mangalore Refinery & Petrochemicals Ltd. Fully Paid Ord. Shrs
Buy for short term
Show your support to me by sharing only 1% of your profit at tradewithanusha@sbi
MRPL is facing resistance at 47.85 to 48.25 breakout with good volume above 48.5can give you a target mentioned in the charts
go long if retail investor for target 72
today is the q1 f22 result if it goes in line then it can achieve medium term target of 72 within 6 to 8 months
stock is in good up trend
It took support at bottom line of channel pattern in weekly timeframe
In daily time frame it broke trendline and continues up move
Volume also good
MRPL
NSE:MRPL
Cmp - 43
Stop - 35 on DCB
Expectation -
T1 - 55
T2 - Open, Review at 55
Expected Holding Period - 60 trading days or earlier for T1
View:- Swing/Positional
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
GO LONG
on MRPL
1. Strong support with 200 moving average
2. Retraced at 0.618 level
3. uptrend with strong support of upper and lower trendline
Do trail your profits
share your views.
The stock of MRPL is trading in the range of 44.5-45.5, Forming a resistance of 46, Breakout above 46 will be our Entry point with the SL of 43.95 for the Target of 48.5. It has formed HNS formation in the downtrend which is a signal of a possible trend reversal with the potential to up to the price of 52.
Beautiful chart pattern. Stock now must respect its year long rising trend line. If it gets the support here then it must move up in the rising channel. And the next target must be of 63.Once it breaks the 63 level then next target must be 70+. RSI below 30. Share is in oversold category.
