Mangalore Refinery & Petrochemicals Ltd – Resistance Zone Breakout Watch

📊 Technical View (Daily Chart) Major Resistance Zone: The stock is testing a strong horizontal resistance near ₹158.50, a level that has rejected price multiple times in the past year. Volume Confirmation: Recent bullish candles are backed by rising volumes — an early sign of accumulation. Pattern Setup: The structure resembles a broad rounding bottom with higher lows since March 2025, suggesting improving sentiment and strength. Moving Averages: Price has crossed above short-term averages, indicating a shift in trend momentum. Sustained close above ₹158.50 could trigger a sharp rally. 🎯 Key Levels Breakout Level: ₹158.50 Targets: ₹175 → ₹195 → ₹215 Support Zone: ₹138–₹142 Invalidation Level: Close below ₹134 💡 View A strong breakout above ₹158.50 with volume expansion can confirm the reversal of the long-term downtrend. Traders can watch for a decisive close above resistance before initiating fresh positions.