MFL LONG TRADEMFL gave an ERC breakout in Dec 2024 - touching a high of 54.5 but showed SOT shortly and started trading in a downward corrective channel. This steep downward channel is actually a Bull Flag as per Price Action Principles. MFL has shown reversal with supportive Volume Gradient confirmations and upward movement from Golden Ratio Fibonacci retracement. Reversal trades are one of the best R:R trades.
🚨 TECHNICAL BUY CALL – MFL 🚨
🎯 BUY ZONE: Rs. 34-40.85
📈 TP1 : Rs. 47
📈 TP2 : Rs. 54.6
🛑 STOP LOSS: BELOW Rs. 29.9 (Daily Close)
📊 RISK-REWARD: High Conviction | 1:4.2
Caution: Please buy in 3 parts in buying range. Close at least 50% position size at TP1 and then trail SL to avoid losing incurred profits in case of unforeseen market conditions.
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