MRPL - Weekly Chart Analysis
Retest Zone Identified: The price has returned to a key historical retest zone near ₹157, which has acted as significant resistance in the past and is now being tested as a support level.
Historical Context: After a strong breakout above this level, the stock rallied significantly, indicating the importance of this zone. The retest suggests potential accumulation in this area.
Price Action: The price seems to be forming a base in the highlighted support zone, showing a possibility of upward momentum if this level holds.
Future Projection: A potential bullish scenario has been illustrated with a dotted purple line, suggesting a move towards ₹264 and beyond if the retest is successful and buying interest resumes.
Key Levels to Watch:
Support: ₹135-₹157 (Green Zone)
Resistance: ₹264 (Next Major Resistance)
Conclusion: MRPL is at a critical juncture. If the retest zone holds, it could present a strong buying opportunity for a potential long-term uptrend. Traders should monitor this zone closely for confirmation of bullish momentum.
Historical Context: After a strong breakout above this level, the stock rallied significantly, indicating the importance of this zone. The retest suggests potential accumulation in this area.
Price Action: The price seems to be forming a base in the highlighted support zone, showing a possibility of upward momentum if this level holds.
Future Projection: A potential bullish scenario has been illustrated with a dotted purple line, suggesting a move towards ₹264 and beyond if the retest is successful and buying interest resumes.
Key Levels to Watch:
Support: ₹135-₹157 (Green Zone)
Resistance: ₹264 (Next Major Resistance)
Conclusion: MRPL is at a critical juncture. If the retest zone holds, it could present a strong buying opportunity for a potential long-term uptrend. Traders should monitor this zone closely for confirmation of bullish momentum.
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Get BTST trade ideas from highly accurate BreakoutAI. Contact below to get access ⬇️
✅Whatsapp: wa.me/message/NNXDQESLW4ECL1
✅ Telegram: t.me/breakoutinvesting
⭐ Custom Indicator
⭐ BTST Calls
⭐ FNO Trades
⭐ Algo Trading
✅Whatsapp: wa.me/message/NNXDQESLW4ECL1
✅ Telegram: t.me/breakoutinvesting
⭐ Custom Indicator
⭐ BTST Calls
⭐ FNO Trades
⭐ Algo Trading
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.