Mangalore Refinery and Petrochemicals Stock Forecast
Volatile ride for Mangalore Refinery and Petrochemicals stock price on Monday moving between ₹228.00 and ₹256.50
(Updated on May 06, 2024)
The Mangalore Refinery and Petrochemicals stock price fell by -8.93% on the last day (Monday, 6th May 2024) from ₹251.50 to ₹229.05. During the last trading day the stock fluctuated 12.50% from a day low at ₹228.00 to a day high of ₹256.50. The price has risen in 5 of the last 10 days and is up by 2.62% over the past 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 12 million shares were bought and sold for approximately ₹2.70 billion.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.46% during the next 3 months and, with a 90% probability hold a price between ₹212.79 and ₹321.46 at the end of this 3-month period.
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MRPL.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mangalore Refinery and Petrochemicals stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹248.04 and ₹230.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -9.84%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Mangalore Refinery and Petrochemicals stock
Mangalore Refinery and Petrochemicals finds support from accumulated volume at ₹220.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹28.50 between high and low, or 12.50%. For the last week, the stock has had daily average volatility of 5.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MRPL.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Mangalore Refinery and Petrochemicals Limited to open at ₹237.85, and during the day (based on 14 day Average True Range), to move between ₹216.38 and ₹241.72, which gives a possible trading interval of +/-₹12.67 (+/-5.53%) up or down from last closing price. If Mangalore Refinery and Petrochemicals Limited takes out the full calculated possible swing range there will be an estimated 11.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹220.00 (3.95%) than the resistance at ₹244.40 (6.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Mangalore Refinery and Petrochemicals Limited will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Mangalore Refinery and Petrochemicals Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.47% in the first trading day after earnings release.
Is Mangalore Refinery and Petrochemicals Limited stock A Buy?
The Mangalore Refinery and Petrochemicals stock holds several negative signals and despite the positive trend, we believe Mangalore Refinery and Petrochemicals will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.387 Sell Candidate Downgraded
Predicted Opening Price for Mangalore Refinery and Petrochemicals Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹237.85 ( 3.84%) | ₹229.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRPL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 266.35 | 16.28 % | |
| R2 | 255.46 | 11.53 % | ||
| R1 | 248.74 | 8.60 % | ||
| Current price: | 229.05 | |||
| Support | S1 | 226.96 | -0.91 % | |
| S2 | 220.24 | -3.85 % | ||
| S3 | 209.35 | -8.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 286.10 | 24.91 % | |
| R2 | 248.70 | 8.58 % | ||
| R1 | 244.40 | 6.70 % | ||
| Current price | 229.05 | |||
| Support | S1 | 220.00 | -3.95% | |
| S2 | 203.95 | -10.96% | ||
| S3 | 184.95 | -19.25% |
MRPL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 02, 2024 | Feb 02, 2024 | Feb 21, 2024 | ₹1.00 | 0.397% |
| 2 | May 13, 2019 | May 30, 2019 | Aug 03, 2019 | ₹1.00 | 1.80% |
| 3 | May 16, 2018 | Jun 28, 2018 | Sep 10, 2018 | ₹3.00 | 3.95% |
| 4 | May 17, 2017 | Aug 10, 2017 | Sep 18, 2017 | ₹6.00 | 4.42% |
| 5 | Jul 26, 2017 | Jul 26, 2017 | Jul 26, 2017 | ₹6.00 | 4.96% |
FAQ
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