Seasonal timelines have been drawn on the chart. MFFL stocks have been seen historically going up in the month of October till first week of December i.e. for average 1.5 months and then going down. This happens because of the citrus export and selling locally as well. While from March till Aug it mostly relies on selling finished food products like jams.
Technically Fib retracement has already reached 0.89 level; besides bullish divergence has started to form on 4h TF. Price is about to reach a very strong support zone as well.
Therefore, it is strongly recommended to initiate instant buy at current market price and if it dips further to first support level then buy again. And if it falls even till the middle of support zone then buy third time as well.
Trade values are depicted below.
Buy Trade Call
Buy 1: 132.00
Buy 2: 129.50
Buy 3: 124.50
TP1 : 168
TP2 : 200
TP3: 250
SL: 115
Technically Fib retracement has already reached 0.89 level; besides bullish divergence has started to form on 4h TF. Price is about to reach a very strong support zone as well.
Therefore, it is strongly recommended to initiate instant buy at current market price and if it dips further to first support level then buy again. And if it falls even till the middle of support zone then buy third time as well.
Trade values are depicted below.
Buy Trade Call
Buy 1: 132.00
Buy 2: 129.50
Buy 3: 124.50
TP1 : 168
TP2 : 200
TP3: 250
SL: 115
Note
As analyzed earlier, trend is moving precisely like that. Now the price has even crossed the parallel channel and has entered into bull run. Therefore, all those who waited for the bull run to begin, now is the time to Buy.
Trade active
07-11-2024. MFFL is at market upper cap 173.24 . No one is selling now. Anyway, after hitting TP on 25 Oct, 2024 it retraced back a little and once gain crossed the TP1 point.
Now it seems that it is very much likely to reach TP2 as well if it crosses the resistance at 182~185 region.
Trade closed: target reached
11-11-2024. MFFL is closed at upper capped value of 195. TP-2 of 200 is most certainly achieved tomorrow. Day after tomorrow some profit booking is expected but for sure TP-3 is in the sight. Note
My Trade is not closed yet. After booking some profit, I'll continue trading it. My SL is now 180.Note
TP-3 of 250 was achieved. Therefore I had closed my trade. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.