MRPL stock forum
MRPL Stock Research Report: Mangalore Refinery and Petrochemicals LtdTechnical Parameters:
Current Market Price (CMP): ₹207.25
Buy Zone: ₹207-₹215
Target: ₹250
Stop Loss: ₹187
Time Frame: 4-6 Weeks
Technical Analysis:
Current Price Action: Mangalore Refinery and Petrochemicals Ltd is currently trading at ₹207.25, which falls within the recommended buy zone of ₹207-₹215. This provides an optimal entry point for potential gains, as the stock is at the lower end of the buy range.
Trend and Momentum: The stock has shown signs of positive momentum, which is expected to continue if it remains within or above the buy zone. The technical setup suggests potential for upward movement.
Support and Resistance Levels:
Support: ₹187 – This is the level where the stock is likely to find buying interest if it falls. Setting a stop loss at this level helps protect against significant downside risk.
Resistance: (Identify if available) – While a specific resistance level was not provided, the target of ₹250 indicates a significant upside potential.
Rationale for Recommendation:
Buy Zone: Enter within the ₹207-₹215 range. This range offers a favorable entry point, allowing for potential gains as the stock is anticipated to move towards the target price.
Target: ₹250 – This target represents a substantial potential upside from the current market price. It is based on technical analysis and expected resistance levels or price projections.
Stop Loss: ₹187 – Set a stop loss at this level to manage risk and limit potential losses if the stock moves unfavorably. This stop loss level provides a cushion against significant declines.
Time Frame: The expected duration for achieving the target is 4-6 weeks. This time frame considers typical price movement patterns and trend development.
Summary: Mangalore Refinery and Petrochemicals Ltd presents a buying opportunity within the ₹207-₹215 range, with a target price of ₹250. The stock shows potential for further gains based on current momentum and technical indicators. Monitor the stock closely, use a stop loss at ₹187 to manage risk, and anticipate reaching the target within 4-6 weeks.
MRPL Weekly closing above 66.3 will confirm Flag breakout pattern and could reach 77 - 81Daily closing today happened above 66.5, this should also take it to around 77 - 81 levels
