Mangalore Refinery and Petrochemicals Limited (MRPL) Stock - Complete Technical Analysis - Sep 17, 2024

MRPL Stock Analysis: Key Support & Resistance Levels Bearish Signals Explained

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. Mangalore Refinery and Petrochemicals Limited (MRPL) is currently trading around 187, which is approximately 35.39% below its 52-week high. The stock is showing signs of weakness with the Relative Strength Index (RSI) indicating an oversold condition. The MACD and Bull Bear Power are suggesting a bearish trend, while the Awesome Oscillator and Williams Percent Range confirm this bearish sentiment. The Average Directional Index (ADX) indicates a strong trend, reinforcing the bearish outlook.

Support for MRPL is expected near the recent lows, potentially around the 185 to 190 range. Resistance could be encountered around the 200 mark, with further resistance near 210 based on recent highs. The stocks volatility is reflected in the Average True Range (ATR), suggesting significant price swings. Traders should watch for potential breakout or breakdown points around these support and resistance levels. Given the stocks current oversold condition, a rebound could be possible if it holds above key support levels.