hey guys ,
all of the traders were waiting from a long time to find a good swing trade for the stock - MRF
now the time has came ,
and MRF has crossed it's resistance ,
From a LONG time ,
MRF was facing resistance,
from the upper trendline ( WHICH I HAVE DRAWN )
and now this stock has crossed it's resistance .
and taken support
therefore, from my opinion...
When it comes to the technical analysis of MRF, you might get an impulse to the upside. Based on my technical analysis , there aren't many resistances till the Target 1. If it breaks, you may target for Target 1& Target 2. If you are going in, better find a pullback. I have marked a good entry area on the chart; you may use it as an entry area; which is a good...
When it comes to the technical analysis of MRF , it is in an uptrend. Right now price is staying near the previous demand area. And the resistance to the upside is very weak based on current scenario. You may use the pull back to get in. Your targets are T1, T2 and T3.
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The MRF is now at nearly a very strong Support zone and Will give around 5% return if Bought and more on Futures if Bought .
The MRF Fundamentals shows that Current liabilities showing a Stagnant Position and Non current Liabilities shows also Stagnant position .
But see its Cash flow Positions as it shows Negative Cash flow from investing Activities as it have...
MRF is ready for the long, its tends to complete neutral triangle and after that it will go for the wave (c) of a Flat. The first target will be 82250. If it goes to higher then it will be at 83750, if it extend the wave (c) then you may see MRF at near 85-86K.
MRF Has broken out and has retested and can undergo a rally in short term.
It has also reached lower trendline of a channel; It has not been shown in this chart to prevent complicated drawings.
Risk Reward Ratio - 1 : 1
Trade is supported by brokerage calls and Supports Nearby & 200 EMA .
SL is placed below major support zone and target is place near swing and...
MRF, India's biggest tyre company has made a new "all time high" today post consolidating for 2.5-3 years. Markets are over heated for ultra short term but the risk-reward is good here.
Plus the entire auto, auto-ancillary and tyre space is in uptrend.