Technical Analysis of Indian Equities by Nooresh

TRF – Setting up for a long term breakout

TRF Blog

TRF Technical View

  • A short term triangle breakout seen above 390-400 mark.
  • Multi month resistance at 450.
  • Sustaining above that will be a long term breakout.
  • Can call it a cup and handle or a rounding bottom.
  • Will it be a fundamental turnaround in next few quarters or is the market betting on hope is tough to say.

#Disclosure - The stock has been recommended at 380-400 as a medium term pick in Technical Traders Club 

Nooresh Merani

Securities covered above:: MRPL

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Article by Nooresh Merani

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