MRF LTD
MRF Ltd. is currently forming a symmetrical triangle pattern, indicating potential volatility as it approaches a breakout. This pattern shows the stock consolidating with a series of higher lows and lower highs. The support and resistance levels marked on the chart demonstrate the boundaries of this consolidation phase.
If the stock breaks above the upper resistance level, it could lead to a strong upward movement, with a target of ₹128,157. However, if it breaches the lower support, it might indicate a downward trend toward ₹118,000.
This setup suggests a high-probability trading opportunity in either direction, depending on the breakout. As always, traders should combine this analysis with additional indicators and risk management strategies before entering a trade.
If the stock breaks above the upper resistance level, it could lead to a strong upward movement, with a target of ₹128,157. However, if it breaches the lower support, it might indicate a downward trend toward ₹118,000.
This setup suggests a high-probability trading opportunity in either direction, depending on the breakout. As always, traders should combine this analysis with additional indicators and risk management strategies before entering a trade.
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