Mangalore Refinery surges up to 12.3% in morning trade

Mangalore Refinery rose as much as 12.30% to Rs 182.21 on October 26, 2026, and trades inside a Rs 156 to Rs 192 sideways range. Mangalore Refinery and Petrochemicals Limited [

] rose as much as 12.30% to Rs 182.21 in morning trade on October 26, 2026. At 11:29 am it was near Rs 177.42, up 9.35%, and Rs 192 is the resistance. A brokerage report expects elevated diesel prices and seasonally higher October to December demand to support standalone refiners. MRPL’s Q2 profit rose to Rs 1,881 crore from Rs 639 crore. The daily chart shows a sideways range between Rs 156 and Rs 192 since July. Price repeatedly meets sellers near the top and buyers near the bottom. Today’s candle is a strong green bar inside this range, not a breakout. The trend is sideways, and the daily Relative Strength Index at 54.58 is balanced. What next: a close above Rs 192 may signal a range breakout. A close below Rs 156 may signal a breakdown. The earlier jump to Rs 182.85 on October 7 did not hold. Conclusion: The stock stays sideways between Rs 156 and Rs 192. A close beyond either level is needed for direction. Disclosure & Disclaimer: I and my family members do not hold any position in the stock discussed. This content is provided solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell any security. Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.