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Price and trend forecast of MRPL for Tomorrow, Weekly, Monthly

Mangalore Refinery and Petrochemicals Limited

Symbol: NSE:MRPL

ISIN: INE103A01014

217.78

As on 2024-07-24

80.25 (52W Low) 289.25 (52W High)

MRPL's Today's Performance

Mangalore Refinery and Petrochemicals Limited started the day by opening at 203.59 today 2024-07-24. Its shares reached a high of 220.00 and dipped to a low of 203.29 in intraday. When the markets closed, MRPL’s stock price settled at ₹217.78 per share. Also check out its key support and resistance levels.

MRPL Buy/Sell Targets

Tomorrow, buy MRPL when its price reaches ₹ 217.78 with a stop-loss order at ₹ 211.11. You can set the target price as ₹ 224.46 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of MRPL for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for MRPL

Downside Targets Value in ₹
Tomorrow Down Target 1 224
Tomorrow Down Target 2 230
Tomorrow Down Target 3 241

Important Levels for MRPL

Holding Levels Value in ₹
Tomorrow Up Target 1 207
Tomorrow Up Target 2 197
Tomorrow Up Target 3 191
Based on where the stock opens tomorrow, if MRPL opens on a positive note, our first target will be ₹224. If Target 1 is achieved, we will aim for Target 2 which is ₹230.

But if MRPL falls below the average value of ₹213.69, you can enter a sell side position with target number 1 - ₹207 and second target - ₹197 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of MRPL

Looking at MRPL, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, MRPL has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for MRPL is moderate bearish.

Tomorrow's Volume based share price Forecast for MRPL

MRPL's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -34%.

Reversal detection for MRPL

Predicted trend chart of MRPL tomorrow for price forecast
MRPL may reverse its trend from upside (Short term bearish outlook) and we can get target of ₹204 in morning tomorrow
Target 1 tomorrow220
Target 2 tomorrow224
Target 3 tomorrow230
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with MRPL's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if MRPL opens on a positive note, our first target will be ₹224.09. If Target 1 is achieved, we will aim for Target 2 which is ₹230.40.

But if MRPL falls below the average value of ₹213.69, you can enter a sell side position with target number 1 - ₹207.38 and second target - ₹196.98

MRPL's Weekly Targets
1st Up Target 226.92
2nd Up Target 236.06
1st Down Target 203.57
2nd Down Target 189.36

As the week for MRPL ended on bullish sentiments, we can expect further continuation of this sentiment. MRPL's initial target will be 226.92 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 203.57 in the upcoming week.

Weekly OHLC Values
Open 215.00
High 221.85
Low 198.50
Close 217.78

Week for MRPL started with an open price of 215.00, and the close was at 217.78. MRPL reached the highest of 221.85 and dipped lowest up to 198.50 last week. This indicates a bullish sentiment for the week.

MRPL full month swing targets
Monthly Up Target 1 250.27
Monthly Up Target 2 259.41
Monthly Down Target 1 180.22
Monthly Down Target 2 142.66

Targets of ₹250.27 can be expected to be reached in the coming month. Once MRPL achieved this target, we can aim for the next upside target of ₹259.41.

MRPL if fails to hold upside, down targets of ₹180.22 and ₹142.66 can be achieved by end of this month.

For complete three weeks if MRPL is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as MRPL

Symbol Name Industry
RELIANCE Reliance Industries Limited Oil & Gas Refining & Marketing
ADANIENT Adani Enterprises Limited Thermal Coal
ONGC Oil & Natural Gas Corporation Limited Oil & Gas Integrated
COALINDIA Coal India Limited Thermal Coal
IOC Indian Oil Corporation Limited Oil & Gas Refining & Marketing

Summary

MRPL is expected to reach the target of 224.09 in tomorrow's trading session.

After achieving the initial target in MRPL, we will aim for higher targets of 230.40 tomorrow.

However, if MRPL starts to trade below ₹213.69, then we will shift our focus to the sell side and aim for down targets of 207.38 and 196.98.