buy above upper red line at eod view is personal call is always positional buy it and tsl it to cost.
MRF Tyres seem to have formed a double top. A short below the range, or a long above can be initiated in the following sessions.
If weekly closes above 74k, with strength candle. Waiting for CCI34 to cross 0 Momentum is still not there, Its reversal's first signal - For Safe trade, wait til Friday to close weekly in GREEN candle.
Market Analysis In MRF we enter the SHORT trade due to the following reasons... BEARISH GARTLEY BEARISH CYPHER CHANNEL RESISTANCE This is the best time to ENTER SHORT for 0.382(65935) & 0.618 / CHANNEL Bottom (64048) as TARGETS....
In mRF, Bullish Garltey might form by CD leg going down till 39100....only if prices are kept below 41875, cmp 41740. Point D might form at 39100
MRF has broken out of a high degree downtrend and is consolidating above the UTL (of the entire move down). Any move above the UTL (of the current consolidation) could be a good entry point for holding it till a target to new highs. This is in continuation of the previous post on MRF, in case that was missed (link attached). The fib levels would act as support. So...
MRF IS CRACKING SLOWLY WHO TRADES INDIAN SCRIPTS SHORT THIS AND ENJOY PROFITS
MRF seems to be correcting downwards. It could reverse from any of the Fib levels. A move above the trendline would be confirmation that the uptrend has started.
There are early signs of bottoming out. Awaiting confirmation before buying this one.