MRF Limited (MRF) Stock - Complete Technical Analysis - Dec 13, 2024

"MRF Limited Stock Analysis Key Support & Resistance Levels for Profitable Trades Partha Kuchana

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.

Detailed Technical and Fundamental Analysis of MRF Limited

Support and Resistance Levels

Immediate Support: The support lies at 1,30,900.05, and 1,30,800.55 as seen on Dec 13 and Dec 09, 2024. These are significant levels where buyers might re-enter the market if the stock dips.

Immediate Resistance: The resistance near 1,33,500.00 on Dec 13 and a strong zone around 1,35,000.00 indicates that MRF has room to grow towards its 52-week high of 1,51,445.00, if market sentiment remains bullish.

Recent Price Trends

Over the last five days, MRF has demonstrated strong bullish movements, with minor fluctuations in the range. The recent high of 1,33,500.00 from Dec 13 signals buying interest, and any break above this could lead to further upward momentum.

The 52-week high at 1,51,445.00 was achieved in Feb 2024, and the stock is currently trading 12.02% below this level, indicating the potential for a retest of these highs.

The 52-week low at 1,15,500.05 indicates that the stock is currently 15.36% above this level, showing an uptrend from recent lows.

Momentum and Indicators

The RSI at 71.67 signals that the stock is in an overbought zone, suggesting that there may be a pullback soon. This is confirmed by the Stochastic Oscillator at 92.99, which indicates that MRF might be losing steam in the short term.

The MACD at 2,089.75 is in a strong bullish position, supporting the upward momentum.

Momentum at 7,983.95 and the Awesome Oscillator at 7,640.56 confirm that there is strong bullish pressure.

Key Moving Averages

The stock remains above its Exponential Moving Averages (EMA) and Simple Moving Averages (SMA), confirming a prevailing bullish trend.

Ichimoku Base Line at 1,25,450.53 and Classic Pivot at 1,22,950.78 suggest that the stock is likely to see upward movements, but caution is needed near resistance zones.

Risk Indicators

The ADX at 24.87 suggests that the stock is trending, but the trend strength is moderate.

The Average True Range (ATR) of 6,376.86 shows moderate volatility, typical of stocks with strong investor interest.

WPR at -2.45 signals that the stock may face resistance or a reversal soon.

Investment Strategy

Investors should be cautious near resistance levels of 1,33,500.00 and higher as the stock shows overbought conditions. Look for potential pullbacks near support levels of 1,30,900.05. MRF remains a strong stock with good growth potential but is currently experiencing some short-term consolidation.