MRF Limited (MRF) Stock - Complete Technical Analysis - Sep 17, 2024

MRF Limited (MRF) Stock Analysis: Key Support, Resistance & Trend Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. MRF Limited (MRF) is trading at approximately 135,219, which is about 10.71% below its 52-week high. The stock shows mixed signals from its technical indicators. The Relative Strength Index (RSI) suggests that the stock is relatively neutral, neither overbought nor oversold. The MACD and Bull Bear Power indicate a weakening bullish momentum, while the Awesome Oscillator and Williams Percent Range are pointing towards a bearish bias. The Average Directional Index (ADX) confirms a weak trend, suggesting that the current price movement may be less directional.

Support levels for MRF are likely around the recent lows, which are close to the 132,000 mark, considering the Inside Candle pattern observed. Resistance may be encountered near the 142,500 range, as indicated by the recent high. The stocks trading range over the past 28 days highlights that it has been trading within a confined range, suggesting a potential breakout or breakdown in the near term. Traders should monitor price action around these key levels for potential trading opportunities, given the current volatility reflected in the ATR readings.