MRPL Stock Analysis by Yagnesh Patel

Jan 01, 2025 |
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MRPL stock chart analysis with support & resistance levels

MRPL Stock Analysis 

  • On the daily chart, MRPL had been in a downtrend, forming a pattern of lower highs and lower lows until October 2024. However, in the past two months, the stock has not created a new low, signaling a potential trend reversal.
  • The stock has consistently attempted to take support near the 140 level over the past few weeks, reinforcing this level as a critical support zone.
  • The slope of the 55-day SMA has aligned closely with the price, following a consolidation period of two months. This alignment often signals a strong trend reversal.
  • A falling trend line breakout occurred on the last trading day, confirming the reversal of the prior downtrend. The breakout was accompanied by rising volumes, adding further credibility to this trend reversal.
  • The Weekly RSI shows a positive divergence, indicating that the momentum is improving even as prices were previously declining. Multiple positive divergences are also visible on the daily chart, strengthening the case for a bullish reversal.

Conclusion: We are expecting stock price may go up side from here cmp – 149 levels

Important Resistance: 155 - 161 - 174

Important Support: 142 - 135 - 122

Analyst: Yagnesh Patel

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SEBI Registered Research Analyst

Registration Number: INH000016320

Email: support@yagneshpatel.in

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I’m SEBI Registered RA. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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