MRF Share Price Technical Analysis: Buy or Sell

Investors have paid higher prices over time to buy MRF Limited and the stock is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. 

Make money using our bank nifty option tips on a daily basis.

The stock has received a positive signal from the moving average indicator, thus signaling a continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 94000 rupee. Volume tops and volume bottoms correspond well with tops and bottoms in the price. Volume balance is also positive, which strengthens the trend. RSI is above 70 after a good price increase the past weeks. The stock has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The stock is overall assessed as technically positive for the medium long term.