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MRF LTD.

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MRF trade ideas

MRF Ltd. (NSE: MRF) – Technical Analysis UpdatePattern Formation: MRF Ltd. has been forming a cup-and-handle pattern over the past several months, indicating a bullish continuation. The stock has successfully tested the key Fibonacci retracement levels and is now moving towards potential breakout zones. Cup-and-Handle Formation: The rounded cup formed after the stock declined from its peak around ₹150,995 and found support near ₹115,601. The handle has now completed, as the stock consolidated within a falling wedge pattern, building strength for the next leg upwards. Key Resistance Levels: Immediate Resistance: ₹144,045 (4.26% upside) – This level aligns with the upper boundary of the wedge pattern. A breakout above this level would signal strength, confirming the end of the handle phase. Major Target: ₹161,250 (16.54% upside) – This represents the projected target based on the full breakout of the cup-and-handle pattern, leading towards a possible rally to the previous all-time highs. Support Levels: Strong Support: ₹133,298 – This aligns with the 50% Fibonacci retracement level, where the stock has shown significant buying interest during previous dips. Key Fibonacci Levels: 61.8% (₹133,475) and 38.2% (₹129,121) act as pivotal zones for any pullback in case of renewed selling pressure. Volume Profile & RSI: Volume Analysis: The recent volume spikes, especially during the approach to the wedge breakout, show accumulation, confirming investor confidence. RSI: The Relative Strength Index is approaching the 60-70 range, suggesting a healthy bullish trend without overbought conditions. Outlook: If MRF Ltd. breaks out of the ₹144,045 resistance level, it could see a swift move towards ₹161,250, a potential gain of 16.5% from current levels. Traders should look for strong volume confirmation during the breakout for additional momentum. Risk Factors: If the stock fails to sustain above ₹133,298, there could be a deeper retracement to test lower Fibonacci levels, with downside risks towards ₹129,000-125,000.
NSE:MRFLong
by AngshumanSaikia
MRF LTD S/R Support and Resistance Levels: Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. 20 EMA (Exponential Moving Average): Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:MRF
by zenthosh
[Intraday] MRF Short IdeaNote - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives
NSE:MRFShort
by Amit_Ghosh
[HP] MRF Short IdeaNote - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives. =======
NSE:MRFShort
by Amit_Ghosh
[Positional] MRF Short Idea Note - One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all. ======= I use shorthands for my trades. "Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.) "Intraday" -means You must close this position at any cost by the end of the day. "Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. ======= I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share. ======= Like - Always follow a stop loss. In the case of Intraday trades, it is mostly the "Day's High". In the case of Positional trades, it is mostly the previous swings. I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives. =======
NSE:MRFShort
by Amit_Ghosh
When to sell MRF (Madras Rubber Factory)Namaste! MRF is the biggest valued stock (INR) in India. It's price is around half the nominal GDP per capita (2022) of India. It seems overvalued to me. You see, retail individuals cause the volatility (rapidly falling prices). Retail individuals react overwhelmingly and quickly to emotions and they cause the volatility (rapidly falling prices). But due to insanely INR price of MRF, it surely has kept away retail people. This costly stock would have been mostly attracted sensible big pocket individuals and financial institutions. But now I think it is a good time to book profits in MRF Ltd (at Rs 1,10,000). Following are the reasons: 1. Most of the worlds' central banks increased interest rates at very fast pace. RBI didn't increase as rapidly because they wanted growth. Many companies reported record profits due to cheap credit in India. 2. RBI increasing rates in the year 2024: You see, GDP growth was an important factor to the current ruling party because history has taught that the government which didn't increased GDP growth figures during their ruling tenure, has lost the following elections in India. So, it has been greatly paid attention to increase GDP growth percentage, of course at the cost of inflation . 3. Coming recession in the year 2024 (personal assumption) . 4. Slight uncertainty in the economy due to 2024 election. 5. India got a good hype due to moving production from China to India. It caused the Indian stock market (Nifty50) to not fall as much as their global peers . I wouldn't say it isn't possible, but it would take longer time period than the market is pricing in. 6. My bearish instinct . I do not own and/or planning to own any shares or position in the stock. Disclaimer: This article should not be considered as an investment or trading advice. The analysis is based on my understanding and experience in the markets. You must do your own analysis and/or consult your financial advisor before investing or trading.
NSE:MRFShort
by UnknownUnicorn7637383
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